Despite saying that it is “crazily volatile,” the American billionaire Barry Sternlicht admitted he has personally invested in bitcoin. Apart from it, he also has some holdings of the second-largest digital asset – ether.
Barry Sternlicht – Co-Founder of the investment fund Starwood Capital Group – opined in a recent interview with CNBC that bitcoin is a financial tool that can help against the mass printing of fiat currencies. Unlike traditional government-issued currencies, the digital asset has a pre-determined maximum supply of 21 million ever to exist, which has urged Sternlicht to purchase some:
“The reason I own bitcoin is because the US 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.”