The billionaire CEO of Starwood Capital, a financial investment company with over $95 billion under management, has actually exposed 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, a financial investment company with over $95 billion in properties under management (AUM), discussed 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 employer exposed that he owns bitcoin and ether, keeping in mind that cryptocurrency makes good sense as a method to diversify financial 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 factor I own bitcoin is because the U.S. federal government, and every federal government in the Western Hemisphere, is printing money now to the end of time, and this is a limited quantity of something and it can be traded worldwide.
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 continued to describe 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 innovation is “going to change everything,” he thinks, “We’re probably in inning one.”
