Billionaire Barry Sternlicht Owns Bitcoin Because Governments Are ‘Printing Money Now to the End of Time’

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

Barry Sternlicht, chairman and also CEO of Starwood Capital Group, an investment company with over $95 billion in properties under monitoring (AUM), discussed bitcoin and also cryptocurrency in a meeting with CNBCWednesday According to Forbes &#x 2019; checklist of billionaires, Sternlicht &#x 2019; s total assets asof Oct 14 is $4.4 billion.

The Starwood Capital manager exposed that he owns bitcoin and also ether, keeping in mind that cryptocurrency makes good sense as a means to expand financial investment profiles.

Commenting on what JPMorgan CEO Jamie Dimon claimed concerning bitcoin wearing, he claimed, &#x 201C;Gold is kind of useless also. &#x 201D; Discussing bitcoin as a shop of worth, he shared:

The factor I possess bitcoin is because the U.S. federal government, and also every federal government in the Western Hemisphere, is publishing money now to the end of time, and also this is a limited quantity of something and also it can be traded around the world.

Despite having BTC, the billionaire CEO explained: &#x 201C;Bitcoin is a stupid coin. It has no genuine function apart from a shop of worth, and also it &#x 2019; s wildly unstable. &#x 201D; He continued to discuss why he owns ether. &#x 201C;So, ether &#x 2026; I possess some of that. It &#x 2019; s a programmable Bitcoin, and also there are lots of various other coins improved that system. &#x 201D;

In enhancement, Sternlicht kept in mind that he has &#x 201C; come to be really curious about blockchain innovation all at once. &#x 201D; Stating that the innovation is &#x 201C; going to adjustment whatever, &#x 201D; he thinks, &#x 201C;We &#x 2019; re possibly in inning one. &#x 201D;

What do you think of billionaire Barry Sternlicht &#x 2019; s remarks concerning bitcoin and also cryptocurrency? Let us recognize in the remarks area listed below.

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John Lesley/ author of the article

John Lesley is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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