Bill Gates, the co-founder of Microsoft, thinks that the anonymity of virtual currencies is not a good thing because by using them people can buy drugs, people can fund terrorist attacks and organized crime groups can launder money.
Virtual currency can get people killed because they are used to buy synthetic drugs, Bill Gates said in a Q&A session on Reddit.
“As we speak virtual currencies are being used to buy drugs, so this is a technology that can get people killed” Bill Gates said.
Bill Gates said that the anonymity of virtual currencies prevents authorities from uncovering money laundering operations or terrorist attacks funding. He thinks that the current bubble involving virtual currencies is very risky for long term investors.
Some of the people who attended the Q&A criticized Bill Gates saying that he is not properly informed and through his statements he can influence the market, while others suggested he should study the bitcoin release document.
Bill Gates was not always so critical about virtual currency because, back in 2014 in a Bloomberg TV interview, he said that bitcoin is more than just a currency.
Investor Warren Buffet, who is a close friend of Bill Gates, said he is pessimistic about virtual currency and they will end badly.