OPEN APP
Home / News / World /  Does Bill Gates own any cryptocurrency? Here's what he has to say to crypto investors
Listen to this article

Microsoft co-founder Bill Gates in a recent ‘Ask Me Anything’ exchange on Reddit revealed he had not distributed some of his wealth into cryptocurrencies. Gates further explained that he likes investing in things that have “valuable output," arguing digital assets aren't his cup of tea.

“I like investing in things that have valuable output. The value of companies is based on how they make great products. The value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments," he Gates said on the Reddit exchange.

Additionally, he explained that crypto is “just what some other person decides someone else will pay for it so not adding to society like other investments." This comes following his statement some time last year in 2021 when Gates had predicted that digital currencies will eventually emerge as the main form of payment method. While he took a “neutral view" on bitcoin, saying he is not a HODLer, nor he would short it in the recent Reddit AMA on Thursday. 

Additionally, he also warned those who are interested in investing in crypto to be utterly careful when investing in BTC as they could suffer severe financial losses. He advised everyone who has less money than Elon Musk to “watch out" when diving into the digital asset universe. This is interesting because it clearly means every single person since Elon Musk is currently the richest man across the globe.

Meanwhile, Bill Gates sold about $940 million of Canadian National Railway Co. shares, trimming one of the largest holdings of the investment firm that controls his $117 billion personal fortune.

Cascade Investment unloaded roughly 12% of its shares in the Montreal-based company from April 27 to May 12, leaving it with a stake of about 9% or $6.8 billion, according to a Securities and Exchange Commission filing.

Cascade has been reducing its ownership of the Canadian railway since at least May 2021, when it still owned roughly 13% of the company. One of Cascade’s investment managers, Justin Howell, has served on Canadian National’s board since last year.

Canadian National shares have slid 7.3% this year after rising steadily from pandemic-era lows in March 2020. Kirkland, Washington-based Cascade also owns a $14.1 billion stake in Republic Services Inc., a waste-management company, as well as $9.7 billion of Deere & Co. stock. Cascade’s largest holding is thought to be $26.9 billion worth of shares in Microsoft Corp., the software company Gates founded. Gates stopped reporting his Microsoft shares in 2020 after stepping down from its board.

Gates, 66, the world’s fourth-richest person according to the Bloomberg Billionaires Index, recently got into a spat with Elon Musk after he accused Gates of damaging his environmental credibility by shorting Tesla Inc. In an interview with the BBC this month, Gates appeared to acknowledge that he had indeed shorted shares of the electric-vehicle maker, saying that he was merely diversifying his investments.

The Bill & Melinda Gates Foundation also sold $180 million worth of Canadian National shares since late April, reducing its stake to less than 2%, according to the filing.

(With inputs from agencies)

 

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

×
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout