Billionaires choose Bitcoin over gold … but some prefer Ether


Following the latest statements by Jamie Dimon – CEO of JPMorgan – who reiterates his opinion that Bitcoin has no value, two well-known billionaires recently expressed support for the cryptocurrency. revealing particular interest in the second most capitalized digital asset, Ether.

On October 13, during an interview with Squawk Box on CNBC, Barry Sternlicht – co-founder of Starwood Capital Group – reported that in his opinion it is gold that is. “worthless“and instead invested in Bitcoin (BTC) for its limited amount, contrary to the endless printing of money currently taking place by every government”of the Western Hemisphere“.

Sternlicht is known for his real estate investments through Starwood Capital Group and is estimated to have a net worth of approximately $ 4.4 billion. The investment company was founded in 1991 and has approximately $ 95 billion in assets under management (AUM).

Sternlicht was asked about his opinion on Jamie Dimon’s repeated skepticism that BTC has not “no value“. He answered:

“Gold is worthless, as is silver: they certainly have some industrial uses, but they are minor. The reason I own Bitcoin is because the US government, as well as every government in the Western Hemisphere, is printing money. endlessly.”

Mark Cuban, owner of the Dallas Mavericks with a net worth of $ 4.3 billion, echoed similar views on Wednesday by speaking to Make IT on CNBC. Cuban reported that BTC is “better than gold“, and then continue stating that Ethereum has the”higher yield“as an investment.

While favoring BTC over gold, Sternlicht therefore went on to praise Ethereum:

“Bitcoin is a dumb coin, it has no real purpose other than to be a store of value, and it’s insanely volatile. On the other hand, Ether, which I own, is a programmable Bitcoin and there are a host of other coins built on it. that system “.

I am very interested in blockchain technology and distributed digital ledgers as a whole, I am convinced that they will change everything: probably, we are still at an early stage“, he concluded.

Related: Billionaire Bill Miller is a Bitcoin supporter, but doubts altcoins

However, not all billionaires have boarded the cryptocurrency train. Larry Fink, the president of the world’s largest asset manager BlackRock (AUM $ 9.4 trillion), said he is “probably more on Jamie Dimon’s side“:

“I’m not a Bitcoin scholar and I don’t know where it will go, so I can’t tell you if it will go to $ 80,000 or $ 0. But I think digital currency will play a huge role.”

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