Why Bill Gates Won't Buy a Bored Ape Yacht Club NFT
Between Bitcoin continuing to sink, Bill Gates has some thoughts on Bored Ape Yacht Club, and NFTs in general, and President Joe Biden penned a letter to big oil companies.
It's safe to say Bill Gates won't be buying a Bored Ape Yacht CLUB NFT anytime soon. The founder of Microsoft said that NFTs and cryptocurrencies are "100% based on greater fool theory."
He even joked that NFTs of monkeys--cough cough BAYC--would improve the world immensely.
Gates admitted that he's more inclined to asset classes--such as a company that makes products or a farm.
President Joe Biden has called on the oil companies to step up and take some of the pressure of rising gas prices off of the consumer as the national average of a gallon of gas soars above $5, per data from AAA.
Biden urged Chevron, ExxonMobil, and other oil companies to increase the supply in a letter.
He also states that the rise in prices shows that there's a shortage of refinery capacity while profits from the companies are skyrocketing.
A solution, according to the President's letter, would be for the companies to invest more heavily in the refining capacity so that more gas could be supplied to the domestic market.