Bill Gates Calls NFTs as Based on 'Greater-Fool' Theory

The world's richest man and Microsoft co-founder Bill Gates have made a big statement about cryptocurrency. He has dismissed any cryptocurrency project such as non-fungible token (NFT). 

During an event, he has described it as a fake thing based on the theory of fooling. During the program, Bill Gates said that the world cannot be improved with expensive monkey pictures. But these are neither long nor short-term asset classes. 

Last year too, Bill Gates was in a lot of discussion about cryptocurrency. He also had a debate with Elon Musk about this, which became headlines. Gates described crypto mining as extremely harmful to the environment. 

Bill Gates's statement about cryptocurrency has come at a time while the previous Bitcoin and Ethereum such as popular cryptocurrencies have caused heavy losses to investors. 

It is worth noting that on Monday, Bitcoin was 15% lost and 10% on the last trading session on Tuesday. Bill Gates has already criticized cryptocurrency and has been describing it as a big threat.