The billionaire CEO of Starwood Capital, a financial investment company with over $95 billion under management, has actually exposed that he owns bitcoin and ether. “The U.S. federal government, and every federal government in the Western Hemisphere, is printing cash now to the end of time, and this is a limited quantity of something and it can be traded internationally,” he described.
Billionaire Barry Sternlicht Owns Bitcoin and Ether
Barry Sternlicht, chairman and CEO of Starwood Capital Group, a financial investment company with over $95 billion in properties under management (AUM), spoke about bitcoin and cryptocurrency in an interview with CNBC Wednesday. According to Forbes’ list of billionaires, Sternlicht’s net worth since Oct. 14 is $4.4 billion.
The Starwood Capital employer exposed that he owns bitcoin and ether, keeping in mind that cryptocurrency makes good sense as a method to diversify financial investment portfolios.
Discussing what JPMorgan CEO Jamie Dimon stated about bitcoin being useless, he stated, “Gold is sort of useless too.” Going over bitcoin as a shop of worth, he shared:
The factor I own bitcoin is due to the fact that the U.S. federal government, and every federal government in the Western Hemisphere, is printing cash now to the end of time, and this is a limited quantity of something and it can be traded internationally.
In Spite Of owning BTC, the billionaire CEO explained: “Bitcoin is a dumb coin. It has no genuine function aside from a shop of worth, and it’s wildly unpredictable.” He continued to describe why he owns ether. “So, ether … I own a few of that. It’s a programmable Bitcoin, and there are lots of other coins developed on that system.”
In addition, Sternlicht kept in mind that he has actually “ended up being extremely thinking about blockchain innovation as a whole.” Mentioning that the innovation is “going to alter whatever,” he thinks, “We’re most likely in inning one.”
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