Bill Gates, the co-founder of Microsoft, has likened cryptocurrencies and non-fungible tokens ("NFTs") to the greater fool theory, which suggests that prices of overvalued assets will keep rising because there's enough speculators willing to pay. Cryptos and NFTs are "100% based on the greater fool theory," Gates told TechCrunch at an event Wednesday. “Somebody’s going to pay more for it than I do.” In referencing NFTs, or digital representations of real-world objects, Gates facetiously added that “expensive digital images of monkeys” would “improve the world immensely.” It seemed that he was referring specifically to the popular Bored Ape Yacht Club NFT collection, of which have been falling in price in recent days amid a risk-off environment for riskier assets. Gates also emphasized that he is not involved in “any of those things.” Likewise, Warren Buffett, famously known as the Oracle of Omaha, said "if you offered me all the world's bitcoin (BTC-USD) for
