Starwood Capital CEO Defends the Position of Bitcoin as a Store of Value

Starwood Capital CEO Defends the Position of Bitcoin as a Store of Value

 

The idea of Bitcoin and cryptocurrency trading has not settled with every investor even after 12 years. In general, the traditional financers have divided opinions about the idea of investing their money into the digital industry. From time to time, different financial moguls and influencers keep coming forward with their reflections on the matter. 

Only recently, Jamie Dimon, the CEO of JP Morgan, told the media in an interview that Bitcoin is worthless. He also claimed that this opinion is made under personal capacity. It should be clear that JP Morgan has proceeded to offer their clients crypto exposure to cater to the increasing demand. However, a new Bitcoin maximalist Barry Sternlitch has come forward recently to defend the position of Bitcoin.

Bitcoin Offers Investors Great Financial Benefits

Starwood Capital is considered one of the largest and most sought-after financial services institutions in the United States. As of this year, the total Asset under Management (AUM) at this enterprise is valued at $95 billion. CEO Barry Starlintch was speaking with the journalists at CNBC on the matter of Bitcoin.

Starlintch told the media that Bitcoin is a great store of value under the current financial environment. He further added that most governments in the western world have decided to print more money. Such steps will contribute towards money devaluation and increase inflation. He added that he has decided to invest in the two top cryptocurrencies, i.e., Bitcoin and Ethereum.

It should be noted that the net worth of Starwood Capital CEO Barry Starlintch is estimated to be around 4.4 billion as of this month. He recently told CNBC that he got interested in Bitcoin due to the money printing policies of the government. He also called out the CEO of JP Morgan on his comments about Bitcoin and defended the flagship cryptocurrency as a viable store of value. Starlintch added that intrinsically speaking, gold is also a worthless commodity. However, Bitcoin is a good store of value that can act as a hedge of value during the money supply period. Speaking on the matter of Ethereum, he said that he has decided to invest a little into the silver cryptocurrency as well. He pointed out that Ether is a programmable blockchain, and blockchain technology is going to change everything eventually.



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