Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk

February 23, 2021
THOMAS DISHAW
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Microsoft founder Bill Gates has issued a warning to would-be Bitcoin (BTC) buyers looking to follow Elon Musk’s investment strategy. Speaking to Bloomberg’s Emily Chang, Gates suggested Musk had access to sophisticated trade management techniques that the average investor isn’t privy to.

When asked about the susceptibility of Bitcoin to tumble in price in reaction to a mere tweet (undoubtedly a reference to Elon Musk’s own social media posts), Gates said Elon Musk was probably insulated from such market crashes:

“Elon has tons of money and he’s very sophisticated so, you know, I don’t worry that his Bitcoin would randomly go up or down.”

On Feb. 23, little over two weeks since Tesla’s $1.5 billion acquisition of Bitcoin was announced, the price of Bitcoin fell 20% — from $58,258 to $46,624. At the same time, almost $400 billion was wiped off the global market cryptocurrency market cap.

Interestingly enough, the crash occurred just hours after Musk himself expressed the opinion that the then-current prices of Bitcoin and Ether (ETH) were “high”. Whether this was a criticism, or an attempt to deflect heat from a possible investigation into Musk’s influence on crypto prices, the entire market plunged in the aftermath.

Building a Bitcoin Prison

By Greg Hunter
February 20, 2021
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Former Assistant Secretary of Housing and investment advisor Catherine Austin Fitts says you have to be careful and fully understand Bitcoin. Fitts explains, “We do know they want to go to an all-digital system with central bank cryptos. The easiest way to build the prison is to get freedom lovers everywhere to build the prison for you. To me, Bitcoin has always been the prototype on the way to building the all-digital crypto system that they would love to put into place. You have $400 trillion in fiat (currency) and it needs a place to go. If you are trying to buy up all the gold, silver and farmland, the last thing you need is competition from retail. They want to shift them into crypto and get them to build the crypto train tracks. In a funny kind of way, it’s brilliant.

There is talk by big banks that Bitcoin could go to $300,000 per unit by the end of the year. Fitts thinks, “This is absolutely possible. This is pure politics. This has nothing to do with economics. How much will the central bankers, who can print as much money as they want, spend to get you into this platform? Your guess is as good as mine. The sky’s the limit as to how much they can spend. Remember, once they decide to bring out the central bank currencies, and they have steadily been regulating the crypto currencies, Bitcoin and everything else, so the day they decide to take this to zero, they can do it. If you are going to invest into cryptos and build our prison for us, what you need to know is this thing could go to $300,000, and it can also go to zero. This is a highly speculative market, and you need to approach it accordingly.”

Fitts warns of a dark future if the central bankers get everything they want. Fitts says, “When they decide to shut down our bank accounts and say you all get on crypto, universal basic income and take that injection or you can’t transact on the financial system, this is instituting a totalitarian system through the financial system. . . . When they shut that trap door, what you need to think about is where are you going to buy food?”

In closing, Fitts says, “We are in Never, Never Land. We have two groups in our society: One group that can print money, and the other who can earn money. What we saw last year is the people who could print money declared war on the people who earn money. They basically said we are going to shut down your businesses, and we are going to suck up and take your market share or buy you out with money we print out of thin air. . . . We have no pandemic. What this is is an economic war.”

Video: Catherine Austin Fitts on Bitcoin, Gold and The Go Direct Reset

USAWatchdog
Published February 19, 2021

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Rumble — Greg Hunter of USAWatchdog.com talks to Catherine Austin Fitts, Publisher of The Solari Report, about the financial warfare being waged globally in preparation for the financial reset!!

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Bill Gates Says He Would Eagerly Get Rid of Cryptocurrency

February 19, 2021
THOMAS DISHAW
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The Microsoft co-founder has never had any illusions about digital money, having previously expressed concern about it being decentralised and thus poorly protected against illicit financial schemes. However, he recently didn’t fully rule out using it in his foundation’s transactions.

Bill Gates has hinted that he is no fan of bitcoin and other digital assets, pointing out in a recent interview with The Wall Street Journal:

“The way cryptocurrency works today allows for certain criminal activities. It’d be good to get rid of that”, he said, adding: “I probably should have said bio weapons. That’s a really bad thing”.

As MarketWatch put it in its story, the comments from the Microsoft co-founder and philanthropist do not necessarily imply that he is himself not a bitcoin enthusiast, but suggest that he sees cryptocurrencies as being prone to be used by fraudsters in money-laundering schemes, for instance.

Speaking in a sit-down with CNBC that aired on Thursday, Gates, who has in recent years been fully preoccupied with work on his health and wellbeing-focused Gates Foundation, described his stance as “neutral”, thereby sounding more balanced with regard to digital tokens, among which bitcoin famously became the flagship back in 2009.

“I don’t own bitcoin, I’m not short bitcoin, so I’ve taken a neutral view”, he said in the interview, which aired on CNBC’s “Sqawk Box” show, adding that he himself also has certain plans in this regard:

“I do think moving money into a more digital form and getting transaction costs down, that’s something the Gates Foundation does in developing countries”, he noted, saying that while the cryptocoin may fluctuate “based on the mania or whatever the views are”, he cannot predict the ways how the flagship currency may evolve.

His vision of the cryptomoney seems to have softened to a great extent over time, as back in 2018, the tech mogul was explicitly sceptical about the future of the coin:

“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment”, Gates said on CNBC two years ago.

Prices of the blockchain-based cryptocurrency skyrocketed to above $52,000 on Thursday, reaching a new historic high, and have gained nearly 80% so far in 2021, whereas the start of the year saw gold, an asset that bitcoin is often pit against as a rival “safe haven”, go down 6.4%.

Twitter chief partners with and rap mogul Jay-Z to back Bitcoin

AFP, San Francisco
Published: 13 February ,2021: 07:09 AM GST
Updated: 13 February ,2021: 08:22 AM GST
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Twitter chief Jack Dorsey on Friday put out word that he and rap mogul Jay-Z are creating a fund devoted to making bitcoin digital money “the internet’s currency.”

Dorsey, who is also founder and chief of financial services and mobile payments firm Square, said in a tweet that he and Jay-Z are giving 500 bitcoin to fund an independent endowment called “Btrust.”

That amount of the cryptocurrency was worth about $24 million on Friday.

“It will be set up as a blind irrevocable trust, taking zero direction from us,” Dorsey said, adding that the fund would initially focus on bitcoin development teams in Africa and India.

He said three board members were being sought, adding a link to an online application that stated the mission is to “make bitcoin the internet’s currency.”

Launched in 2009, bitcoin has been on a meteoric rise since March, when it stood at $5,000, spurred by online payments giant PayPal saying it would allow account holders to use cryptocurrency.

Tesla this week announced a $1.5 billion investment in the digital money and plans to accept the cryptocurrency from customers buying its electric vehicles.

The announcement came on the heels of a cheeky social media embrace of bitcoin by Tesla CEO Elon Musk, who temporarily changed his Twitter bio to simply read “#bitcoin.”

On Friday, Canada’s main securities regulator cleared the launch of the world’s first exchange-traded bitcoin fund, giving retail investors greater access to the booming cryptocurrency.

Skeptics say bitcoin is highly volatile and regulators warn it is vulnerable to illicit use.

Bitcoin on Friday touched a new high of $48,930 after MasterCard and US bank BNY Mellon moved to make it easier for people to use the cryptocurrency.

Bitcoin surges above $42,000 after Tesla discloses $1.5 bln investment

AFP, San Francisco
Published: 13 February ,2021: 07:09 AM GST
Updated: 13 February ,2021: 08:22 AM GST
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Bitcoin surged to an all-time high after Telsa Inc. said it has invested $1.5 billion and will begin accepting the cryptocurrency as a form of payment.

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Prices jumped 10 percent to $42,595 as of 12:57 p.m. in London. Tesla made the announcement as part of an update to its investment policy, according to a filing.

It’s another sign that the cryptocurrency is gaining widespread traction as a type of investment. Enthusiasts often tout the digital asset as a hedge against inflation and store of value in a world awash with stimulus and rampant central-bank money printing.

“If retail and institutional interest continues to grow over the next month, Bitcoin could target the $45,000 level,” said Edward Moya, a senior market analyst at forex broker Oanda Corp.