- Microsoft co-founder Bill Gates says he would short Bitcoin if there would be an easy way to do so
- Former Federal Reserve governor backs an idea of a so-called “FedCoin”
- BMW intends to track mileage in leased vehicles through its blockchain platform
We wrote about Warren Buffett’s harsh comments regarding Bitcoin yesterday, and today we are going to mention another prominent businessman’s comments – Bill Gates. Microsoft co-founder said in an interview with CNBC on Monday that he would bet against Bitcoin if there would be an easy way to do so underlining his sceptical approach to virtual currencies. He said on CNBC’s “Squawk Box” that “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 also admitted that he was offered some Bitcoin for his birthday, but he sold it a few years afterwards. His comments seem to match those voiced by Buffett over the past weekend nevertheless one may notice a notable difference between two businessmen. Namely, while no one should be taken by surprise hearing phrases like “rat poison” from Warren Buffett who is known as the fundamentalist investor and therefore being sceptical to new technologies, Bill Gates represents completely different thinking being much more open to technological inventions, and even so he is not fond of Bitcoin and the likes of it.
Former Federal Reserve governor backs an idea of a so-called “FedCoin”
Looking back to the past there were some presumptions that Kevin Warsh could become a new Federal Reserve chairman, but it did not materialise. Now a former Fed governor, who served from 2006 to 2011, weighs in on cryptocurrencies suggesting the US central bank should consider releasing a government-sponsored cryptocurrency commonly called a “FedCoin”. While he does not expect this virtual currency could replace fiat money, he thinks it works as a way to conduct monetary policy when the next downturn occurs. Although there are some disputes between the incumbent Federal Reserve chairman and Kevin Warsh with respect to advantages the US economy could reap from cryptocurrencies both more or less agree that it could be reckless to dump digital currencies altogether.
Ethereum bounced back from a support placed at $690 being underpinned by the rising trend line, but it failed to move through a local resistance line at $765 at the first try. Any declines could be viewed as a buying opportunity until the price keeps moving above the mentioned trend line. Source: xStation5
BMW intends to track mileage in leased vehicles through its blockchain platform
The German carmaker is piloting a blockchain platform to track mileage in leased vehicles through its start-up innovation program. The prime reason the company decided to switch from the current automatic mileage tracking system is its unreliability as it does not provide informations BMW might actually use. Let us remind that BMW together with other companies including Ford, GM, Renault or Bosh have recently formed the Mobility Open Blockchain Initiative in order to better utilize blockchain’s distributed and decentralized ledger technology.