Latest News

Billionaire Barry Sternlicht Owns Bitcoin Due To Excess Governments Money Printing

Barry Sternlicht is the chairman and CEO of Starwood Capital Group, an investment firm of over $95 billion in assets under management. Furthermore, Sternlicht discusses about bitcoin and cryptocurrency during an interview with CNBC Wednesday. Meanwhile, As per Forbes’ list of billionaires, Sternlicht has a net worth of $4.4 billion.

Additionally, The Starwood Capital CEO notes that he owns bitcoin and ether. Which of course, he says cryptocurrency makes sense as a means to diversify investment portfolios.

Notably, Sternlicht joins JPMorgan CEO Jamie Dimon to describe Bitcoin as Worthless. While, noting that bitcoin is a store of value.

“The reason I own bitcoin is because the U.S. government, and every government…”
“in the Western Hemisphere, is printing money now to the end of time,…”
“and this is a finite amount of something and it can be traded globally.”

However, Billionaire Sternlicht despite owning bitcoin says,
“Bitcoin is a dumb coin. It has no real purpose other than a store of value, and it’s crazily volatile.”

Then, He goes ahead to explain why he owns ether.

“So, ether … I own some of that. It’s a programmable Bitcoin,..”
“and there are tons of other coins built on that system.”

In addition, Sternlicht notes
“become very interested in blockchain technology as a whole.”
Stating that the technology is “going to change everything,”
he concludes,
“We’re probably in inning one.”

Australian Securities Exchange Ready To Launch crypto-related ETF

MoneyGram Partners With Stellar As Ripple Struggles Through SEC Lawsuit

Photo credit – CNBC

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.