Bill Gates leaves Microsoft, Buffett exits company's board, future Bitcoin showdown unlikely

Bill Gates and Warren Buffett criticized Bitcoin as having no value in 2018 and may not see it in the future.

Microsoft announced on the 14th, Taiwan time, that co-founder and technical advisor Bill Gates will be stepping down from the company's board of directors to focus more on philanthropic endeavors. Gates stated on his LinkedIn, "I have made the decision to step down from both of the public boards on which I serve – Microsoft and Berkshire Hathaway – to dedicate more time to philanthropic priorities, including global health and development, education, and my increasing engagement in tackling climate change. The leadership at Berkshire Hathaway and Microsoft has never been stronger, so it seems like the right time to take this step."

In 2018, while still serving on the board of Berkshire Hathaway, Gates appeared on a program with the company's CEO Buffett and Vice Chairman Charlie Munger, criticizing Bitcoin.

Gates had remarked at that time:

"I would short Bitcoin if there was an easy way to do it."
"Bitcoin and ICOs are speculative manias."

He also used the "Greater Fool Theory" to describe Bitcoin investors, suggesting that regardless of an asset's true value, they are just waiting for a bigger fool to buy it.

Buffett also agreed, stating that Bitcoin has no productive value, and investors can only hope for the next buyer to pay more for it.

Charlie Munger bluntly remarked, "Bitcoin is worthless artificial gold."

As of now, Buffett remains firm in his belief that Bitcoin is worthless and he does not own any cryptocurrencies. With the COVID-19 pandemic, oil price wars, and global stock market crashes in 2020, Bitcoin has been declining along with international events, perhaps missing the opportunity to prove itself to the giants like Gates, Buffett, and Munger from Berkshire Hathaway.