The billionaire CEO of Starwood Capital, an funding agency with over $95 billion beneath administration, has revealed that he owns bitcoin and ether. “The U.S. authorities, and each authorities in 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,” 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 beneath administration (AUM), talked about bitcoin and cryptocurrency in an interview with CNBC Wednesday. In accordance with Forbes’ record of billionaires, Sternlicht’s web value as of Oct. 14 is $4.Four billion.
The Starwood Capital boss revealed that he owns bitcoin and ether, noting that cryptocurrency is smart as a option to diversify funding portfolios.
Commenting on what JPMorgan CEO Jamie Dimon mentioned about bitcoin being nugatory, he mentioned, “Gold is sort of nugatory 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 in 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 actual objective apart from a retailer of worth, and it’s crazily unstable.” He proceeded to clarify why he owns ether. “So, ether … I personal a few of that. It’s a programmable Bitcoin, and there are tons of different cash constructed on that system.”
As well as, Sternlicht famous that he has “turn out to be very in blockchain know-how as an entire.” Stating that the know-how is “going to vary every thing,” he believes, “We’re in all probability in inning one.”
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