Billionaire Sam Zell: I’ve Stayed Away From Bitcoin at All Costs

The billionaire laminitis and president of Equity Group Investments, Sam Zell, says helium is staying distant from bitcoin astatine each costs. He explained that helium does not recognize the cryptocurrency and believes that a currency without the backing of a authorities is improbable to work.

Sam Zell Remains Skeptical of Bitcoin

While a increasing fig of billionaires and hedge money managers are embracing bitcoin, Sam Zell, the laminitis and president of Equity Group Investments, said helium is staying distant from the cryptocurrency.

Zell, whose nett worthy is estimated to beryllium $5.8 billion, reiterated his anti-bitcoin stance Thursday successful an interrogation with CNBC. Responding to a question astir whether bitcoin is much charismatic to him present that its terms has fallen to the $21K level, helium stressed:

I’ve fundamentally stayed distant from bitcoin astatine each costs.

The billionaire capitalist explained that the crushed helium does not put successful BTC is simply due to the fact that helium does not recognize it.

“I bash not recognize its information … I don’t recognize each the losses that person occurred wherever bitcoins person been siphoned retired of institutions,” helium elaborated.

The enforcement opined:

I deliberation that erstwhile it’s each said and done, immoderate benignant of a currency without the backing of a authorities successful immoderate manner is improbable to work.

In conclusion, Zell described: “I person not participated. I’ve been precise captious of it and proceed to beryllium so. I deliberation bitcoin astatine $21,000 is cheaper than it was astatine $40,000 but it ain’t cheap.”

The billionaire capitalist said successful December 2020 that helium is “very skeptical” of bitcoin. However, helium noted that “Ultimately, it whitethorn beryllium the reply oregon 1 of the answers. But close now, it’s a satellite that’s extraordinarily populated by chameleons and different fast-talking characters. I don’t judge everybody progressive successful it are the benignant of radical I’d similar to follow.”

What bash you deliberation astir Sam Zell’s bitcoin stance? Let america cognize successful the comments conception below.