Ever wonder what one of the world’s richest men thinks about bitcoin? Well, you’ve already heard from business magnate Warren Buffett of Berkshire Hathaway (hint: if you haven’t, he’s previously said it’s not a currency and telling investors to stay away).
Bill Gates, with a net worth over $80 billion USD according to Forbes, has spoken up again on the topic of digital currency. And while he didn’t get into terrible amount of detail on his opinion, he says that bitcoin is “exciting” because of the fact that it can show how cheap sending money can be.
Here’s what he told Bloomberg‘s Erik Schatzker on the Street Smart program this week:
[blockquote style=”2″]Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have be physically in the same place and, of course, for large transactions currency can be pretty inconvenient. [/blockquote]
He’s right. Sending money the traditional way can be a hassle, particularly when you’re dealing with large sums. But it’s more about the technology for Gates.
[blockquote style=”2″]Bitcoin technology is key and you can add to it or build a similar technology…[/blockquote]
in the next five years.