Billionaire Barry Sternlicht bought Bitcoin and Ethereum for inflation protection

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.”

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