So the fact is obvious that anybody who has less money than Musk should not invest in Bitcoin. Musk has been very vocal about his passion for Bitcoin. His company Tesla recently invested $1.5 billion in cryptocurrency.

Gates during an interview with Bloomberg TV had said that Bitcoin is not for everyone and only the richest person in the world should consider investing in it.

“Elon has tons of money and he’s very sophisticated, so I don’t worry that his Bitcoin will sort of randomly go up or down.I do think people get bought into these manias who may not have as much money to spare. My general thought would be that if you have less money than Elon, you should probably watch out,” Gates said in the interview.

Bitcoin’s value doubled after Tesla purchased $1.5bn of the currency and accepted it as a mode of payment. Musk soon after his company made an investment called Bitcoin a less dumb form of liquidity than cash.

Tesla’s 10-K report confirmed with the United States Securities and Exchange Commission (SEC) that Tesla has invested $1.5 billion in the Bitcoin cryptocurrency.

“We invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term. Moreover, we expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt,” the company said in the report. However, Musk had warned users to not spend all their life savings on cryptocurrency in a separate video.

While Gates only wants rich people like Musk to invest in Bitcoin, the latter advised people to not invest their life savings in cryptocurrency. “People should not invest their life savings in cryptocurrency, to be clear — that’s unwise,” Musk said. “There’s a good chance that crypto is the future currency of Earth, and it’s like which one’s it going to be? Maybe it’ll be multiple. It should be considered speculation at this point. So don’t go too far with the crypto speculation front,” Musk

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Citing national security concerns, the Trump administration on August issued an executive order requiring that the short video app at the center of US-China tensions, be sold to a US buyer or face being shut down by Sept 15.

The Wall Street Journal reported that Oracle has secured a deal to manage Tik Tok’s US operations. Both the companies haven’t issued a statement, but the tech giant Microsoft, who was a frontrunner to acquire the app at one time has issued statement, with some pointed remarks.

Through their statement Microsoft, cryptically implied that other bids wouldn’t deal with the issue of protecting user data as seriously as it intended to:

“Byte Dance let us know today they would not be selling TikTok’s US operations to Microsoft. We are confident our proposal would have been good for Tik Tok’s users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety and combating disinformation and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas.”

It is not clear whether TikTok’s partnership with Oracle would allow the short-form video app to avert the ban.

However, Chinese state media refute the rumours that Oracle secured the deal. Chinese government revised its export rules that could block the transfer or sale of Byte Dance’s artificial intelligence technologies. It is highly unlikely that China will allow this move.

The clock is ticking on TikTok’s fate.

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Amid mounting pressure and crisis, ByteDance, owner of TikTok has now decided to relocate from Beijing to London. The new move from TikTok will surely upset Donald Trump, as he is very much keen to ban the application from the US soon.

According to a report published in the Sun, ByteDance has finalized this decision, and they have even received a green signal from the British government, headed by Boris Johnson.

This recent move of TikTok is to assure everyone that they are no longer under the thumb of the Chinese state, and if they succeed in relocating to London, countries like India will be compelled to lift the ban of the application.

In the meantime, Microsoft had revealed that they are continuing talks with ByteDance to acquire TikTok. Even though there are no updates regarding the progress of these negotiations, it has been learned that Microsoft is apparently planning to conclude the talks by September 15.

Kevin Mayer, CEO of TikTok had several times revealed that they are not a part of any political agenda. He has also made it clear that the ultimate aim of his company is to create a vibrant and dynamic platform for everyone to enjoy.

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The decision to ban TikTok has been confirmed by President Donald Trump, and he made it clear he would take action in this regard, as soon as Saturday using emergency economic power or executive order.

The decision from Donald Trump comes just a few days after several lawmakers in the country blamed TikTok for leaking users’ private data to the Chinese government. However, ByteDance who owns TikTok had ruled out all these allegations and revealed that they have no links to the communist regime.

“We are not political, we do not accept political advertising and have no agenda — our only objective is to remain a vibrant, dynamic platform for everyone to enjoy. TikTok has become the latest target, but we are not the enemy,” said Kevin Mayer, CEO of TikTok.

The popularity of TikTok surged drastically among the general public in 2017, when ByteDance acquired US-based app Musical.ly, and merged it with its own video service. As India has banned TikTok, and the US is planning to ban it, the platform will lose a fair share of its users, and it will negatively impact its business in the coming months.

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