Share this article
Why the Gates Foundation Doesn't Use Bitcoin
Updated Sep 11, 2021, 11:28 a.m. Published Jan 29, 2015, 10:25 a.m.
Software magnate Bill Gates has again spoken out on bitcoin in his third 'Ask Me Anything' (AMA) session on social sharing platform Reddit.
The focus of the AMA was philanthropy and the work of the Bill & Melinda Gates Foundation. As a result, Gates’ answer revolved around potential bitcoin applications in charity.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In response to the question "What is your opinion on bitcoins or cryptocurrency as a whole? Also do you own any yourself?", Gates wrote:
“Bitcoin is an exciting new technology. For our Foundation work we are doing digital currency to help the poor get banking services. We don't use bitcoin specifically for two reasons. One is that the poor shouldn't have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn't work.”
“Overall financial transactions will get cheaper using the work we do and bitcoin-related approaches,” he added. “Making sure that it doesn't help terrorists is a challenge for all new technology.”
Gates has discussed digital currency technology on a number of occasions and most recently he argued that bitcoin alone would not solve global payments challenges.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure
Downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods, said one analyst.
What to know:
- Bitcoin rebounded from a sharp early selloff on Thursday to trade above $93,000 shortly after the close of U.S. stocks.
- The late-day gain in bitcoin came alongside a rebound in the Nasdaq from big morning losses; the tech index closed with just a 0.25% loss.
- Downward pressure on bitcoin is losing steam, said one analyst, but the market is not yet out of the woods.
Top Stories
