Gold is Money

For centuries, gold coins or bullions has been the go-to asset for those looking to store their wealth and protect themselves against economic uncertainty. But, as the world of finance and investments continues to evolve, new forms of investment assets have emerged, challenging the traditional forms of investing. One of the most significant examples of this is the rise of bitcoin, a digital currency that has disrupted the way we think about money and investing.

In a 2021 interview with Bloomberg, Bill Gates, one of the most successful entrepreneurs of our time, said that cryptocurrencies and NFTs are “100% based on greater fool theory.” This statement sparked a debate among experts in the financial and technology industries, raising concerns about the sustainability of these digital assets and their underlying value. In this article, we will explore the idea that cryptocurrencies and NFTs are digital pyramid schemes based on the greater fool theory and examine the evidence supporting this claim. We will also discuss the potential risks and drawbacks of investing in these types of digital assets and whether or not Bill Gates’ statement holds water.