Fun

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

News Feed - 2021-10-15 08:10:21

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


The billionaire CEO of Starwood Capital, an investment firm with over $95 billion under management, has revealed that he owns bitcoin and ether. “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,” he explained. Billionaire Barry Sternlicht Owns Bitcoin and Ether


Barry Sternlicht, chairman and CEO of Starwood Capital Group, an investment firm with over $95 billion in assets under management (AUM), talked about bitcoin and cryptocurrency in an interview with CNBC Wednesday. According to Forbes’ list of billionaires, Sternlicht’s net worth as of Oct. 14 is $4.4 billion.


The Starwood Capital boss revealed that he owns bitcoin and ether, noting that cryptocurrency makes sense as a way to diversify investment portfolios.


Commenting on what JPMorgan CEO Jamie Dimon said about bitcoin being worthless, he said, “Gold is kind of worthless too.” Discussing bitcoin as a store of value, he shared: 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.


Despite owning BTC, the billionaire CEO described: “Bitcoin is a dumb coin. It has no real purpose other than a store of value, and it’s crazily volatile.” He proceeded 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 noted that he has “become very interested in blockchain technology as a whole.” Stating that the technology is “going to change everything,” he believes, “We’re probably in inning one.”


What do you think about billionaire Barry Sternlicht’s comments about bitcoin and cryptocurrency? Let us know in the comments section below. Deep Web Confusion: Ostensible Alphabay Admin "Desnake" Claims the Darknet Market Has Returned NEWS | 2 hours ago Demand for Crypto Experts in India Hikes Remuneration, Vacancies Spike NEWS | 16 hours ago Tags in this story Barry Sternlicht, Barry Sternlicht bitcoin, Barry Sternlicht btc, Barry Sternlicht crypto, Barry Sternlicht cryptocurrency, Barry Sternlicht eth, Barry Sternlicht ether


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Tom Mitchelhill3 hours agoSpot Bitcoin ETF hype reignited zest for blockchain games: Yat SiuThe Animoca Brands founder and CEO says spot Bitcoin ETF enthusiasm has directly correlated to increased confidence and activity
CleanSpark acquires 5 mining facilities in Georgia
Vince Quill7 hours agoCleanSpark acquires 5 mining facilities in GeorgiaThe new facilities are expected to increase CleanSpark’s hashrate to over 20 exahashes per second by the end of June, spokespeople claimed.4142 To
Savannah Fortis10 hours agoChamp Medici talks Web3 communities, NFTs, music and gamingEntrepreneur and the son of legendary rapper Snoop Dogg, Cordell Broadus (Champ Medici), explains what it takes to bring legacy artist
US Authorities Take Action to Shut Down Crypto Trading Platform Allegedly Defrauding Thousands of Investors
US Authorities Take Action to Shut Down Crypto Trading Platform Allegedly Defrauding Thousands of Investors The New York attorney general and the U.S. Securities
‘There’s More Work to Do’ — 11 Years Ago, Satoshi Nakamoto Sent a Final Message to the Bitcoin Community
"There"s More Work to Do" — 11 Years Ago, Satoshi Nakamoto Sent a Final Message to the Bitcoin Community To this day, Satoshi Nakamoto is one of Bitcoin’s biggest mysterie
Salvadoran President to Bitcoin Investors: Your BTC Investment Is Safe, Will Immensely Grow After Bear Market
Salvadoran President to Bitcoin Investors: Your BTC Investment Is Safe, Will Immensely Grow After Bear Market The president of El Salvador has some advice for bitcoin investors. He
Bitcoin just hit a record in open interest — expect imminent volatility
Lucas Kiely5 minutes agoBitcoin just hit a record in open interest — expect imminent volatilityStay calm and avoid getting carried away by the possibly imminent all-time highs for Bitcoin and Ethereum. Open interest ne
Gareth Jenkinson9 hours agoBoba Guys, Shopify users showcase adoption of Web3 tools — Solana BreakpointMainstream commerce and big brands report improved business results and promising loyalty programs through integrat
Egyptian Currency Plunges 15% After Cairo Accedes to Key IMF Exchange Rate Condition
Egyptian Currency Plunges 15% After Cairo Accedes to Key IMF Exchange Rate Condition After authorities in Egypt announced the adoption of a more flexible exchange rate regime, the
Over $1 Billion Ethereum-Based Tokens Vulnerable to ‘Fake Deposit Exploit’
Over $1 Billion Ethereum-Based Tokens Vulnerable to "Fake Deposit Exploit"A number of university researchers published a study that demystifies the “fake deposit vulnerability
Ross Ulbricht NFT Collection Raises Over $6 Million in Ethereum, Free Ross DAO Wins Auction
Ross Ulbricht NFT Collection Raises Over $6 Million in Ethereum, Free Ross DAO Wins Auction The Ross Ulbricht Genesis non-fungible token (NFT) collection auction has come to an end
Analyst’s Bitcoin Price Prediction From March Plays Out, Here’s The Rest Of It
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu