Cryptocurrencies and NFTs depend on 'greater fool theory', says Bill Gates - The Times

Bill Gates has argued that cryptocurrencies and non-fungible tokens are underpinned by “greater fool theory”.The billionaire said the rapid and volatile rise of such digital assets, which has since given way to a steep rout, was wholly based on one investor b…

Bill Gates has argued that cryptocurrencies and non-fungible tokens are underpinned by nothing more than greater fool theory the premise that one investor is simply willing to pay more than another. … [+600 chars]

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