---
title: "Bill Gates Says That Bitcoin Sucks"
description: "Microsoft founder and billionaire Bill Gates told The New York Times that Bitcoin is \"not a great climate thing.\""
date: "2021-03-10"
modified: "2021-03-10"
authors:
  - name: "Victor Tangermann"
    job_title: "Senior Editor"
    link: "https://futurism.com/authors/victor"
url: "https://futurism.com/the-byte/bill-gates-says-bitcoin-sucks"
categories:
  - "Bitcoin"
  - "Blockchain"
  - "Cryptocurrency"
  - "Future Society"
tags:
  - "Bill Gates"
  - "bitcoin"
  - "cryptocurrency"
  - "the digest"
---

# Bill Gates Says That Bitcoin Sucks

![Microsoft founder and billionaire Bill Gates told The New York Times that Bitcoin is "not a great climate thing."](<https://futurism.com/wp-content/uploads/2021/03/bill-gates-says-bitcoin-sucks.jpg>)
*\<em\>Image: Victor Tangermann\</em\>*

## Not Great

It's no secret that Bitcoin is a bit of a resource hog — and some of the most influential people on the planet are starting to weigh in on the issue as more and more financial institutions are starting to accept the cryptocurrency.

"Bitcoin uses more electricity per transaction than any other method known to mankind," Microsoft founder and billionaire Bill Gates told *The New York Times* in a [recent interview](<https://www.nytimes.com/2021/03/09/business/dealbook/bill-gates-bitcoin.html>).

"It’s not a great climate thing," he added.

## Anything But Green

While estimates vary, one thing is clear: mining Bitcoin is extremely resource intensive, generating as much carbon emissions globally as an [entire developed country](<https://futurism.com/mining-bitcoin-costs-more-energy-159-countries-consume-year>).

It's a divisive topic, with one side lauding its decentralized nature, while others dismiss it as an environmentally harmful alternative to traditional currencies that will only increase the financial sector's carbon footprint.

Many, including Twitter founder Jack Dorsey, are now looking for greener alternatives — because right now there [really aren't any](<https://theconversation.com/bitcoin-isnt-getting-greener-four-environmental-myths-about-cryptocurrency-debunked-155329>).

## Brighter Tomorrow

But that might change soon. For instance, Ethereum, one of the largest Bitcoin alternatives, is hoping to switch to a [more sustainable mining model](<https://ethereum.org/en/eth2/>).

Even Gates could be convinced.

"If it’s green electricity and it’s not crowding out other uses, eventually, you know, maybe that’s OK," he told the *Times*.

**READ MORE:** [Why Bill Gates Is Worried About Bitcoin](<https://www.nytimes.com/2021/03/09/business/dealbook/bill-gates-bitcoin.html>) \[*The New York Times*\]

**More on bitcoin:** [Bill Gates: You Should Probably Not Follow Elon Musk ‘To The Moon’ On BTC](<https://futurism.com/the-byte/bill-gates-elon-musk-moon-btc>)

## Author
I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida.

### Author social links  
[Bluesky](<https://bsky.app/profile/vtanger.bsky.social>)