Following JPMorgan CEO Jamie Dimon’s recent comments that Bitcoin is worthless, two well known billionaires have leapt to its defense — although both of them say Ether has some even more desirable properties.
During an interview with CNBC’s Squawk Box on Oct. 13, Barry Sternlicht, the co-founder of Starwood Capital Group said that gold was actually “worthless” and he is hodling Bitcoin (BTC) because every government in the “western hemisphere” is printing endless amounts of money.
Sternlicht is estimated to have a net worth of around $4.4 billion and is known for his investments in the real estate market via Starwood Capital Group. The investment firm was founded in 1991 and reportedly has around $95 billion worth of assets under management (AUM).
Sternlicht was asked for his take