Billionaire founder and chairman of Equity Group Investments says he is away from Bitcoin at all costs. He explained that he doesn’t understand cryptocurrencies and he thinks currencies without government support are likely to not work.
Samsel remains skeptical of Bitcoin
While more and more billionaires and hedge fund managers are adopting Bitcoin, Sam Zell, founder and chairman of Equity Group Investments, said he is away from cryptocurrencies.
Zell, whose net worth is estimated at $ 5.8 billion, repeated his anti-bit co-instance in an interview with CNBC on Thursday. He emphasized, answering a question about whether Bitcoin is more attractive to him now that prices have fallen to the $ 21,000 level:
I was basically away from Bitcoin.
Billionaire investors explained why he didn’t invest BTC Because he doesn’t understand it.
“I don’t understand its security … I don’t understand all the losses incurred when Bitcoin was sucked up from the institution,” he elaborated.
When all that is said and implemented, I think it is unlikely that any kind of currency without some form of government support will work.
In conclusion, Zel said: I continue to be very critical of it. I think Bitcoin at $ 21,000 is cheaper than $ 40,000, but it’s not. “
Billionaire investors said in December 2020 that they were “very skeptical” of Bitcoin. But he says: “Ultimately, it could be the answer or one of the answers, but now it’s a world where chameleons and other talking characters live extraordinarily. Like everyone involved I want to follow. I don’t think it’s a person. “
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