The founder of Microsoft and one of the richest people on the planet, Gates, has cautioned investors against buying bitcoins.

“If you have less money than Elon [Musk], you probably need to be careful. Elon has a lot of money, and he is very advanced, so I’m not worried that his bitcoins will go up and down chaotically,” Gates said and expressed fears that people who do not have large savings also succumb to such mania.

Meanwhile, the billionaire indicated that he did not believe in bitcoin too much. Moreover, Gates added that it takes a huge amount of energy to create a cryptocurrency and it is harmful to the environment.