The billionaire CEO of Starwood Capital, an investment firm with more than $ 95 billion under management, has revealed he owns bitcoin and ether. “The US government, and all governments in the Western Hemisphere, print money until the end of time, and this is a finite amount of something that can be traded globally. “, he explained.
Billionaire Barry Sternlicht owns Bitcoin and Ether
Barry Sternlicht, chairman and CEO of Starwood Capital Group, an investment firm with more than $ 95 billion in assets under management (AUM), spoke about bitcoin and cryptocurrency in an interview with CNBC on Wednesday. According to Forbes’ Billionaire List, Sternlicht’s net worth as of October 14 was $ 4.4 billion.
The Starwood Capital boss revealed he owns bitcoin and ether, noting that cryptocurrency makes sense as a way to diversify investment portfolios.
Commenting on what JPMorgan CEO Jamie Dimon said about worthless bitcoin, he said: “Gold is also a bit worthless.” Discussing bitcoin as a store of value, he shared:
The reason I own bitcoin is because the U.S. government, and all governments in the Western Hemisphere print money until the end of time, and it’s a finite amount of something and it can be traded worldwide.
Despite owning BTC, the billionaire CEO described, âBitcoin is a dumb coin. It has no other purpose than a store of value, and it is incredibly volatile. He then explained why he had ether. “So the etherâ¦ I own some of it.” It’s programmable Bitcoin, and there are tons of other coins built on this system.
Additionally, Sternlicht noted that he had “become very interested in blockchain technology as a whole.” Stating that technology “is going to change everything”, he believes, “we are probably in the first round.”
What do you think of billionaire Barry Sternlicht’s comments on bitcoin and cryptocurrency? Let us know in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons
Warning: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.