We all know that cryptocurrencies are very volatile and, despite this, there are many large companies and famous personalities who do not hesitate to invest a lot of money in them, actions that are not shared by other great personalities, such as the inventor of the World Wide Web.
Nevertheless, Tim Berners-Leea British computer scientist, recently spoke to the “Beyond The Valley” podcast about CNBC about the cryptocurrencies and, as you can imagine, he did not have very good words, with special emphasis on Bitcoin.
Basically Tim Berners-Lee claims that cryptocurrencies are only speculative and compared them to the DotCom bubbles that occurred in the late 1990s.
“It is a speculation. Obviously, that’s really dangerous. It’s only if you want to have fun with gambling”, he comments.
“Investing in certain things, which is purely speculative, is not what I want to spend on my time“, Add.
However, it did have a positive for cryptocurrencies, affirming the utility of cryptocurrencies for remittances, but as long as they are converted back to fiat currency as soon as they are received.
Other harsh criticism against cryptocurrencies
But Tim Berners-Lee has not been the only detractor of cryptocurrencies, but even Bill Gatesthe co-founder of Microsoft, also warned regular investors that they should be more aware of the volatile price of these digital currencies, and should not invest based on messages from the likes of Elon Musk.
Bill Gates also added that these digital currencies they are being used to buy harmful substances, making them a rare technology that has caused deaths quite directly.
Berkshire Hathaway CEO and Chairman Warren Buffettcalled Bitcoin “rat poison squared”, claiming that he would not pay $25 for the entire Bitcoin of the world.
On the other hand, his business partner and vice president of Berkshire Hathaway, charlie mungerwas even more critical, noting that “holding on to crypto is stupid” and predicting that its value would drop to zero over time.