Billionaires are supporting BTC & ETH over Gold

Recent records say that most of the Billionaires are giving back support to bitcoin instead of Gold because they think that Bitcoin is better than gold.

In the present time, Bitcoin is shining more over the gold. Billionaires are talking about Bitcoin openly with full support. In the latest, Starwood co-founder stated on Bitcoin.

In a recent interview with CNBC, the co-founder of Starwood Capital, Barry Sternlicht, stated that gold is worthless and he is holding Bitcoin because all the governments are printing endless volumes of fiat Currencies. 

Barry is a billionaire and owns 4.4 billion worth of funds. And he is popularly known for his investments in the real estate market and the Starwood Group. Starwood firm currently has $95 billion fund under management. 

When Barry was asked for his point of view on the statement of JPMorgan CEO Jamie Dimon, Bitcoin is worthless. Then Barry stated gold and silver are also worthless and further added 

“I mean they (gold & silver) have some industrial uses but they are minor. The reason I own Bitcoin is because the U.S. government and every government in the western hemisphere is printing money now to the end of time”

However, Barry appreciated the potential of Bitcoin through the Ethereum and added 

“Bitcoin is a dumb coin, it has no real purpose other than a store of value, and it’s crazily volatile. So Ether, I own some of that, it’s a programmable Bitcoin and there are tons of other coins that are built on that system.”

In speaking with CNBC Make IT on Wednesday, Mark Cuban, owner of Dallas Mavericks, also stated on Bitcoin vs gold and said that “Bitcoin is better than gold” and also suggested that before going with the Bitcoin investment, would like to suggest Ethereum.

Read also: CBDCs will not harm financial stability of Central Banks : G7 Meeting