He explained that he does not understand the cryptocurrency and believes that a currency without the backing of a government is unlikely to work.While a growing number of billionaires and hedge fund managers are embracing bitcoin, Sam Zell, the founder and chairman of Equity Group Investments, said he is staying away from the cryptocurrency.
Zell, whose net worth is estimated to be $5.8 billion, reiterated his anti-bitcoin stance Thursday in an interview with CNBC. Responding to a question about whether bitcoin is more attractive to him now that its price has fallen to the $21K level, he stressed:The billionaire investor explained that the reason he does not invest in“I do not understand its security … I don’t understand all the losses that have occurred where bitcoins have been siphoned out of institutions,” he elaborated.
In conclusion, Zell described: “I have not participated. I’ve been very critical of it and continue to be so. I think bitcoin at $21,000 is cheaper than it was at $40,000 but it ain’t cheap.” The billionaire investor said in December 2020 that he is “very skeptical” of bitcoin. However, he noted that “Ultimately, it may be the answer or one of the answers. But right now, it’s a world that’s extraordinarily populated by chameleons and other fast-talking characters. I don’t believe everybody involved in it are the kind of people I’d like to follow.”
Totally funny, the corollary is that any kind of currency with govt backing is eventually doomed to fail and be hyperinflated--am I wrong?
It can be but a government just shouldn't fight crypto currencies like usdt and others
lol traditional currencies are unstable even with government backing People need to invest more usdt in bitcoin to be free and rich (in the future)
times it do work $PAW
That’s why they call it a miracle 🪄
Another negative Bitcoin story (2nd today) at a critical juncture. Whose side are you on? Cryto investor's or the US Treasury's? You really need to change your account name from Bitcoin News to Bitcoin Scares.
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We are lucky people who know p2ptaxi at this stage and we are its holder.🚀🚀🚀🙏🙏🚀🚀🚀🚀
We are lucky people who know p2ptaxi at this stage and we are its holder.
You should ask yourself whom the government is..:. It’s the electorates!!
It will soon get the backing of the govt $paw
Lol! It's the government and FED that put all of you in high inflation rate and you still believe in them? Can't change an old chick's brain.
Any price? 😂
I'm really proud to be one of your investor's. SuzySziala This was the biggest amount I've ever profited in my trading career. I appreciate your hard works.
No problem sam, stick with your proof of war fiat
P2PTAxi 🚀
I trust this guy. Government legislation is like a backbone
No one comes close to the amount of data we look when it comes to crypto
Bullish signal again
Zero
Please rest, okay? $PAW
If every person outside the government uses bitcoin and every person inside the government is not backing it, how much of an impact would that have? :D
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alright $PAW
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Thank God, there is only 21M, not enough for everyone even before the old school billionaires back up their trucks. Stay away and leave it to us
Despite the recent dip in prices of crypto, you can still earn over 300% profit weekly through options trading, leave a DM,if you're interested.
When price goes up these people are silent.. When it goes down “that’s exactly why I never bought it”
Someone wanna tell this genius that El Salvador made Bitcoin legal tender?
You have proven to me that you are genuine and i can trust you with my last dime protraderjason thanks for the payouts
no
Sell all you btc, trust the millionaire lol
NGMI
AZWorld SocialFi2Earn $AZW
Governments that I can buy
Ole man's thoughts.
I always trust what billionaires tell me…
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