Kevin Helms
An Austrian economics student, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.
I have stayed away from Bitcoin at all costs – Featured Bitcoin News
The billionaire founder and chairman of Equity Group Investments, Sam Zell, says that he stays away from bitcoin at all costs. He explained that he did not understand the cryptocurrency and believed that a currency without the support of a government would hardly work.
Sam Zell is still skeptical of Bitcoin
While a growing number of billionaires and hedge fund managers are embracing bitcoin, Sam Zell, founder and chairman of Equity Group Investments, said he is staying away from the cryptocurrency.
Zell, whose net worth is estimated at $ 5.8 billion, reiterated its anti-bitcoin stance on Thursday in an interview with CNBC. In response to a question about whether bitcoin is more attractive to him now that the price has fallen to the $ 21K level, he stressed:
I have basically stayed away from bitcoin at all costs.
The billionaire investor explained that the reason he does not invest in BTC is simply because he does not understand it.
“I do not understand security … I do not understand all the losses that have occurred where bitcoins have been sucked out of institutions,” he elaborated.
The leader thought:
I think that after all is said and done, it is unlikely that any kind of currency without the support of a government will work in any way.
In conclusion, Zell described: “I have not participated. I have 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’s not cheap. “
The billionaire investor said in December 2020 that he is “very skeptical” of bitcoin. However, he noted that “Ultimately it could be the answer or one of the answers. But right now it’s a world that is extraordinarily populated by chameleons and other fast-talking characters. I do not think everyone involved in it is the kind of people I will follow.”
What do you think of Sam Zell’s bitcoin attitude? Let us know in the comments section below.
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