Bloomberg Law
Feb. 25, 2021, 1:34 PM

It’s Gates Versus Musk as World’s Richest Spar Over Bitcoin (1)

Yoojung Lee
Yoojung Lee
Bloomberg News

Unless you’re the world’s richest person, you shouldn’t be buying Bitcoin. That’s the message from Bill Gates — the third richest.

With a rally of more than 400% over the past year, Bitcoin has become increasingly mainstream, and everybody including prominent investors and policy makers have been talking about it. The world’s on-again, off-again richest person, Elon Musk, recently invested $1.5 billion in the cryptocurrency through his company, Tesla Inc., and said Bitcoin would soon be accepted for payments.

Read more: A Beginner’s Guide to Buying Bitcoin for the Curious Investor

For Gates, it’s not something Main Street ...