Bill Gates has described the phenomenon of NFTs and cryptocurrencies as being “100% based on the biggest fool theory.”
Billionaire businessman, founder of Microsoft, Bill Gates stated that NFTs and cryptocurrencies are based on a system known as the dumbest theory. This statement was made in the context of the kriptovaliuta and the resounding drop in popularity of NFTs.
Gates recently participated in a TechCrunch talk on climate change. The billionaire Microsoft co-founder described the phenomenon of NFTs and cryptocurrencies as something that is “100% based on the theory of the greatest fool.”
This is the idea that overvalued assets will rise in price when there are enough willing investors to pay more for them.
Source: https://beincrypto.com/bill-gates-crypto-and-nfts-are-based-on-the-dumbest-theory/