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Home Tech Crypto If you have less money than Elon Musk — watch out!

If you have less money than Elon Musk — watch out!

Document Analysis NLP IA

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1:57
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neutral
sentiment

Sentiment-0.0046555555555555
objective
redaction

Subjectivity0.44182222222222
probably it's an affirmation
Affirmation0.29268292682927

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FREQ, RAKE or TFIDF
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Key Concepts (and relevance score)

Summary (IA Generated)

Microsoft founder Bill Gates has issued a warning to would-be Bitcoin (bitcoin-price-index” rel=”noopener noreferrer”>BTC) buyers looking to follow Elon Musk’s investment strategy.

Speaking to Bloomberg’s Emily Chang, Gates suggested Musk had access to sophisticated trade management techniques that the average investor isn’t privy to.

When asked about the susceptibility of Bitcoin to tumble in price in reaction to a mere tweet (undoubtedly a reference to Elon Musk’s own social media posts), Gates said Elon Musk was probably insulated from such market crashes:.

Interestingly enough, the crash occurred just hours after Musk himself expressed the opinion that the then-current prices of Bitcoin and Ether (ETH) were “high”.

Gates said it would be a mistake for the average investor to blindly follow the mania of optimism surrounding Musk’s market moves, telling those who aren’t billionaires to “watch out.

”.

The Microsoft founder raised the point of Bitcoin’s energy consumption, suggesting that the cryptocurrency didn’t return much in the way of output.

It happens to promote anonymous transactions — they’re not reversible transactions,” said Gates.

According to Gates, digital currencies aren’t necessarily a bad thing, he just thinks they should be transparent, reversible, and essentially, centralized.


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