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Billionaire Barry Sternlicht Owns Bitcoin As a result of Governments Are ‘Printing Cash Now to the Finish of Time’

10/15/2021
Billionaire Barry Sternlicht Owns Bitcoin Because Governments Are 'Printing Money Now to the End of Time'

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 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 property underneath administration (AUM), talked about bitcoin and cryptocurrency in an interview with CNBC Wednesday. In keeping with Forbes’ listing of billionaires, Sternlicht’s web 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 method 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 within the Western Hemisphere, is printing cash now to the tip 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 goal aside 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 “turn out to be very all for blockchain know-how as an entire.” Stating that the know-how is “going to alter every thing,” he believes, “We’re most likely in inning one.”

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