After JPMorgan Chase CEO Jamie Dimon recently commented that Bitcoin is worthless, two well-known billionaires have defended it-even though they both said that Ethereum has some more desirable features.
In an interview with CNBC’s Squawk Box on October 13, Barry Sternlicht, the co-founder of Starwood Capital Group, stated that gold is actually “worthless” and that he is holding Bitcoin ( BTC), because every government in the “Western Hemisphere” is printing endless amounts of money.
It is estimated that Sternlicht has a net worth of approximately US$4.4 billion and is known for its investment in the real estate market through Starwood Capital Group. The investment company was established in 1991, It is said that Managed assets (AUM) worth approximately US$95 billion.
“Gold is also a bit worthless, and so is silver. I mean they have some industrial uses, but they are secondary. The reason I own Bitcoin is because the U.S. government and every government in the Western Hemisphere are now printing money until The end of time,” he said.
Dallas Mavericks owner Mark Cuban’s net worth is $4.3B, echo He expressed similar views in an interview with CNBC Make IT on Wednesday. Cuban said that BTC is “better than gold” and then went on to say that he believes Ethereum has the “biggest advantage” as an investment.
Although supporting BTC instead of gold, Sternlicht continues to prove his support for Bitcoin by praising Ethereum.
“Bitcoin is a stupid coin. It has no real use other than a store of value, and it is very volatile. So Ether, I own some of them, it is a programmable Bitcoin, and it is A large number of other coins have been built on this system.”
“As a whole, I am very interested in blockchain technology and the digital ledger that will change everything, and we may be developing one,” he added.
However, not every billionaire has boarded the crypto train.Larry Fink Chairman The world’s largest asset management company BlackRock ($9.4 trillion AUM) stated that he “may be more involved in Jamie Dimon’s camp.”
“I am not a student of Bitcoin, and I don’t know where it will go, so I can’t tell you whether it will rise to 80,000 or 0 dollars. But I do believe that digital currencies are very useful,” he said.