At a TechCrunch conference on Tuesday Bill Gates stated that NFTs, Crypto, and digital assets as a whole are “100% based on greater fool theory.” The Microsoft founder then states an exaggerated joke about the popular Bored Ape Yacht Club NFTs by stating “expensive digital images of monkeys” will “improve the world immensely.”
These comments from Bill Gates are the result of the crashing of the Cryptocurrency market. Ethereum’s price(https://www.coindesk.com/price/ethereum/) has dropped almost 50% within the past month, and other cryptocurrencies have had similar patterns such as Bitcoin.
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