Yesterday Microsoft Corp. (MSFT) co-founder Bill Gates described bitcoin as one of the “crazier, speculative things” and told CNBC’s Squawk Box that he would short bitcoin if “there was some easy way to do it”. Today the Winklevoss twins, who were among the world’s first bitcoin billionaires, schooled him on that easy way. In a tweet directed at Gates’s account, Tyler Winklevoss suggested using Cboe’s XBT futures to short the cryptocurrency. (See also: Winklevoss Twins Are Bitcoin's First Billionaires).
To be sure, Gates is not completely against bitcoin. In a Bloomberg interview at the start of this year, he said bitcoin had the potential to bring down currency transaction costs. “Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient,” he said, adding that care had to be taken to ensure that the cryptocurrency was not used for money laundering or criminal activities. A string of hacks and its popularity on the Dark Web have earned bitcoin an unsavory reputation in the popular imagination.
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