Mega-investor has Bitcoins because money can be printed infinitely
An investor with a huge amount of money under management has Bitcoins, because money can be printed infinitely. This affects the value.
The CEO of Starwood Capital, an investment firm with more than $95 billion under management, has revealed that he owns Bitcoin and Ether. “The US government, and every government in the western hemisphere, is now printing money until the end of time, and this is a finite amount of something and it can be traded globally,” he explained.
Investor Barry Sternlicht owns Bitcoins and Ether
So Barry Sternlicht is that CEO, and he spoke about Bitcoin and cryptocurrency in an interview with CNBC on Wednesday. According to Forbes’ list of billionaires, Sternlicht’s net worth as of October 14 is $4.4 billion. He noted that cryptocurrency makes sense as a way to diversify investment portfolios.
Commenting on what JPMorgan CEO Jamie Dimon said that Bitcoin (BTC) is worthless, he said, “Gold is also a bit worthless.” He discussed Bitcoin as a store of value. Despite owning BTC, the billionaire CEO described: “Bitcoin is a stupid coin. It serves no purpose other than a store of value, and it is insanely volatile.” He then explained why he possesses Ether. “So, Ether… I own some of that. It is a programmable Bitcoin and countless other coins have been built on that system.”
Technic
Additionally, Sternlicht noted that he has “become very interested in blockchain technology as a whole.” He states that technology is “going to change everything”. He therefore follows a different course than many other investment bosses. And maybe that’s not stupid at all.
