Bill Gates Criticizes Bitcoin: Daniel Batten’s Open Response
In a recent statement, Bill Gates criticized Bitcoin, calling it “useless” and dismissing its value. This sparked a strong response from Daniel Batten, a climatetech investor and Bitcoin analyst, who challenged Gates’ perspective with a well-researched open letter. Batten argued that Gates’ comments are uninformed and overlook Bitcoin’s positive impact on various humanitarian and environmental causes.
“Bitcoin is useless” demonstrates that either you are uninformed, or you do not care for vast swarthes of human life. Considering your well-documented philanthropic efforts, I will assume it is the former, not the latter” wrote Batten
Batten laid out multiple examples where Bitcoin has proven essential, especially in underserved regions and for urgent global causes. Some of the points include:
Empowering Ethiopians with renewable energy: Bitcoin is aiding the delivery of renewable energy to millions in Ethiopia
Supporting war refugees: Bitcoin has been used to safely transport funds to Ukranian refugees
Energy independance for Bhutan: Bitcoin supports the country’s efforts to achieve energy independence
Saving African national parks: Bitcoin mining is helping fund conservation efforts in African parks like Congo’s Virunga
Financial freedom for Afghan women: Bitcoin helps Afghan women overcome state level financial discrimination.
Ending colonial financial systems: Bitcoin is contributing to the sovereignty of 14 African nations affected by French financial policies.
Providing banking to the unbanked: Bitcoin is facilitating banking for billions of unbanked individuals.
Fighting hyperinflation: Bitcoin serves as a safegaurd for families in countries like Argentina, where inflations erodes savings.
Batten’s Appeal
Batten implores Gates to reconsider his position, stating that his philanthropic efforts align with the very cause Bitcoin supports, like financial freedom and sustainability. He invites Gates to become better informed, suggesting that he reads more on the subject before making further public comments on Bitcoin.
