Software magnate Bill Gates has again spoken out on bitcoin in his third 'Ask Me Anything' (AMA) session on social sharing platform Reddit.

The focus of the AMA was philanthropy and the work of the Bill & Melinda Gates Foundation. As a result, Gates’ answer revolved around potential bitcoin applications in charity.

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

13:18

Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO

05:10

Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny

04:07

The first video of the year 2024

40:07

The last regression video of the year 3.67.0

In response to the question "What is your opinion on bitcoins or cryptocurrency as a whole? Also do you own any yourself?", Gates wrote:

“Bitcoin is an exciting new technology. For our Foundation work we are doing digital currency to help the poor get banking services. We don't use bitcoin specifically for two reasons. One is that the poor shouldn't have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn't work.”

STORY CONTINUES BELOW

Recommended for you:

“Overall financial transactions will get cheaper using the work we do and bitcoin-related approaches,” he added. “Making sure that it doesn't help terrorists is a challenge for all new technology.”

Gates has discussed digital currency technology on a number of occasions and most recently he argued that bitcoin alone would not solve global payments challenges.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.

Why the Gates Foundation Doesn't Use Bitcoin

Software magnate Bill Gates has again spoken out on bitcoin in his third Reddit 'Ask Me Anything' session.

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

Recommended for you: