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

Blockchain Firm Labs Group Taps Enjin to Tokenize Real Estate Assets
Blockchain Firm Labs Group Taps Enjin to Tokenize Real Estate Assets The year has started with a batch of announcements regarding tokenization in various sectors
Bitcoin’s Liquidity Lifeline Just Got Cut—What You Need To Know
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
2021’s Digital Asset Shuffle: A Myriad of Crypto Market Cap Positions Moved Chaotically This Year
2021"s Digital Asset Shuffle: A Myriad of Crypto Market Cap Positions Moved Chaotically This Year 2021 has been a bullish year for crypto assets. While prices have risen a great de
Defi Economy Rebounds: Total-Value Locked Jumps 28% Capturing Close to $9B
Defi Economy Rebounds: Total-Value Locked Jumps 28% Capturing Close to $9B,The total-value locked (TVL) in decentralized finance (defi) economy has recaptured much of the value lost
Fake ID crypto exchange sign-ups attract 2-year prison sentence
Ezra Reguerra1 hour agoFake ID crypto exchange sign-ups attract 2-year prison sentenceAustralian authorities sentenced a man who had used other people’s identities to open accounts on crypto exchanges.640 Total views1
At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk Region
At Least 1,000 Lawsuits Filed Against Crypto Miners in Russia’s Irkutsk Region Authorities in the Russian region of Irkutsk have so far filed 1,000 lawsuits against what they cal
65% of Traders on Paypal Ready to Use Bitcoin to Pay for Goods and Services: Survey
65% of Traders on Paypal Ready to Use Bitcoin to Pay for Goods and Services: Survey At least 65% of people who use the Paypal app to trade bitcoin are prepared t
“Ethereum Is Not Dead”: Broadening Wedge Suggests Another Leg-Up Is Coming
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
TRUMP Memecoin Explodes Past $8 Amid Token Unlock Pressure
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
Worldcoin beefs up security by open-sourcing biometric data system
Savannah Fortis11 hours agoWorldcoin beefs up security by open-sourcing biometric data systemWorldcoin Foundation open sources a secure multi-party computation (SMPC) system to enhance biometric data protection and confi
New $3 Trillion Coronavirus Relief Bill: Second Stimulus Checks Could Be Coming to Americans
New $3 Trillion Coronavirus Relief Bill: Second Stimulus Checks Could Be Coming to AmericansAmericans could be getting their second stimulus checks as a new coronavirus relief bill
Jesse Coghlan7 hours agoDirector YOLO’d $4M of Netflix budget into Dogecoin, made $27M: ReportCarl Erik Rinsch reportedly used nearly $11 million of his Netflix show’s budget to gamble with stocks and crypto and made