Billionaires defend Bitcoin, adds Ethereum is even better

Two famous billionaires came to defend the industry after the recent comments of Jamie Dimon, Chief Executive Officer (CEO) of JPMorgan, saying that Bitcoin is worthless. However, both agreed on the better desirable properties of Ethereum.

The co-founder of Starwood Capital Group, Barry Sternlicht, said during an interview with CNBC that he is holding Bitcoin because all the governments in the western region are busy printing money endlessly. He replied to the JPMorgans’ statements by saying that Gold is actually “worthless.”

He has an estimated worth of $4.4billion and, through Starwood Capital Group, has invested quite a lot in the real estate market. The company has around $95 billion worth of Assets Under Management (AUM) and was established in 1991.

When asked about his comments on Jamie Dimon’s skeptical behavior on BTC, he said, Gold and silver both are worthless. 

Mark Cuban finds ETHER even more interesting than Bitcoin

The other supporter who took the side of Bitcoin is Mark Cuban, the owner of Dallas Mavericks with a net worth of $4.3 billion. He also said similar statements while talking to CNBC Make IT. He said that BTC is better than Gold and added that Ethereum is even better for investors.

Sternlicht also favored ETH over BTC while taking the side of BTC over Gold.

“I have become really interested in blockchain technology as a whole. The digital ledger is going to change everything; we’re probably in inning one,” he added.

However, many billionaires are totally against the crypto industry. The largest asset manager worldwide, BlackRock’s chairman Larry Fink said that he is on Jamie Dimon’s side.

Larry added that he is a newcomer for BTC, and he can’t tell whether it will go to $80,000 or $0, but he believes that there are tons of digital currency applications.