Bill Gates in favor of Bitcoin

Bill Gates in favor of Bitcoin

Bill Gates, co-founder of Microsoft, shared his positive views about Bitcoin. He was present at a Bloomberg TV's Smart Street show interview and there, he stated that Bitcoin is quite exciting, as it's quite cheap.

Gates, co-chairman of Bill & Melinda Gates Foundation, was asked about whether he thinks that Bitcoin has enough potential to reduce the cost of payment transactions for moving money from one place to another.

On this, Gates affirmed, "Bitcoin is better than currency in that you don't have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient".

In such a situation, Bitcoin technology can prove quite useful, as one can add to the existing technology or could come up with something similar. In the event, he also talked about cryptocurrencies. As per him, in the coming time, financial transactions will change and become digital, universal and also, almost free.

February 2013 was the last time when Gates talked about Bitcoin. It was the time when the Bitcoin currency was included on Microsoft's Bing search engine. Gates believes that the digital money will be part of India and parts of Africa and help the poorest and that too in the next five years.

It is being said that Gates being Microsoft's technical advisor would surely ask Microsoft to accept Bitcoin in the form of payment and/or weave cryptocurrency in the company's 'Zero-effort' mobile payments initiative.

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