Bill Gates says crypto and NFTs are ‘100% based on greater fool theory’

Bill Gates is not a fan of cryptocurrencies or non-fungible tokens.

Speaking at a

on climate change Tuesday, the billionaire Microsoft co-founder described the phenomenon as something that’s “100% based on greater fool theory,” referring to the idea that overvalued assets will go up in price when there are enough investors willing to pay more for them.

Gates joked that “expensive digital images of…