Barry Sternlicht reveals he owns Bitcoin and Ether, says governments are printing money ‘Now to the End of Time’

Barry Sternlicht, the billionaire CEO of Starwood Capital Group has just revealed that he owns both the Bitcoin and Ether.

Speaking in a recent interview with CNBC, the American billionaire says bitcoin (BTC) is but a financial tool that can help against the non-stop printing of fiat currencies by governments.

In his explanation, Sternlicht noted that in a sharp contrast to what typical government-issued currencies have, BTC is actually finite and can be traded on a global scale. That is, seeing as BTC has a maximum supply of 21 million, that marks its hard ceiling, thus making it resistant to inflation.

The billionaire CEO further explained by adding that Bitcoin might actually be a dumb coin. He claims that the only real essence of Bitcoin is the fact that it is a reliable store of value.

Meanwhile, Sternlicht is seemingly more accepting of the native cryptocurrency of Ethereum blockchain, ether (ETH). Speaking of ether, the billionaire added that he is owning some of it as well. He then went on to call the ETH ‘a programmable bitcoin’ that has a lot more use-cases than even BTC — world’s topmost crypto by market capitalization — itself. His expression may be related to the fact that he has found that there are tons of other coins built on that system.

Sternlicht latest move might just be one of many more to come though. Apart from the two cryptocurrencies he now posseses, he may have also found an interest in blockchain technology. He explains that its offering of a wide range of potential use-cases that cuts across many industries is fascinating to him.

Barry Sternlicht and Many More Billionaires Now Warming up to Bitcoin

Sternlicht might be the latest of these bunch of the ultra-rich to publicly declare his possession of digital coins, but he’s definitely one of many doing same. Recent trends show an increasing number of billionaires around the world, slowly warming up to cryptocurrencies as a reliable class of asset.

Recently, billionaire hedge fund manager Paul Tudor Jones did buy bitcoin last year as a contingency plan against the Fed’s unending money printing.

Very recently as well, a US Senator, Cynthia Lummis revealed that she added $100,000 worth of bitcoin to her personal portfolio. This only goes to tell how far BTC has come in earning the trusts of policymakers and other highly influential individuals in the regulatory sphere.