The billionaire CEO of Starwood Capital, an funding agency with over $95 billion underneath administration, has revealed that he owns bitcoin and ether. “The U.S. government, and every government in the Western Hemisphere, is printing money now to the end of time, and this is a finite amount of something and it can be traded globally,” he defined.
Billionaire Barry Sternlicht Owns Bitcoin and Ether
Barry Sternlicht, chairman and CEO of Starwood Capital Group, an funding agency with over $95 billion in belongings underneath administration (AUM), talked about bitcoin and cryptocurrency in an interview with CNBC Wednesday. Based on Forbes’ record of billionaires, Sternlicht’s internet price as of Oct. 14 is $4.4 billion.
The Starwood Capital boss revealed that he owns bitcoin and ether, noting that cryptocurrency is smart as a method to diversify funding portfolios.
Commenting on what JPMorgan CEO Jamie Dimon mentioned about bitcoin being nugatory, he mentioned, “Gold is kind of worthless too.” Discussing bitcoin as a retailer of worth, he shared:
The explanation I personal bitcoin is as a result of the U.S. authorities, and each authorities within the Western Hemisphere, is printing cash now to the top of time, and this can be a finite quantity of one thing and it may be traded globally.
Regardless of proudly owning BTC, the billionaire CEO described: “Bitcoin is a dumb coin. It has no real purpose other than a store of value, and it’s crazily volatile.” He proceeded to clarify why he owns ether. “So, ether … I own some of that. It’s a programmable Bitcoin, and there are tons of other coins built on that system.”
As well as, Sternlicht famous that he has “become very interested in blockchain technology as a whole.” Stating that the know-how is “going to change everything,” he believes, “We’re probably in inning one.”
What do you consider billionaire Barry Sternlicht’s feedback about bitcoin and cryptocurrency? Tell us within the feedback part under.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It isn’t a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any harm or loss precipitated or alleged to be attributable to or in reference to using or reliance on any content material, items or providers talked about on this article.