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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. authorities, and each authorities within the Western Hemisphere, is printing cash now to the tip of time, and it is 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 underneath administration (AUM), talked about bitcoin and cryptocurrency in an interview with CNBC Wednesday. In line with Forbes’ checklist of billionaires, Sternlicht’s internet value as of Oct. 14 is $4.4 billion.
The Starwood Capital boss revealed that he owns bitcoin and ether, noting that cryptocurrency is sensible as a technique to diversify funding portfolios.
Commenting on what JPMorgan CEO Jamie Dimon stated about bitcoin being nugatory, he stated, “Gold is type of nugatory too.” Discussing bitcoin as a retailer of worth, he shared:
The rationale 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 tip of time, and it is 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 function apart from a retailer of worth, and it’s crazily risky.” 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 “change into very inquisitive about blockchain know-how as an entire.” Stating that the know-how is “going to alter all the pieces,” he believes, “We’re in all probability in inning one.”
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