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Billionaire Sam Zell: I Stayed Away From Bitcoin At All Prices – Featured Bitcoin Information

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Billionaire founder and chairman of Fairness Group Investments, Sam Zell, mentioned he was staying away from bitcoin in any respect prices. He defined that he didn’t perceive cryptocurrency and believed {that a} foreign money with out authorities backing was unlikely to work.

Sam Zell stays skeptical of Bitcoin

As a rising variety of billionaires and hedge fund managers embrace bitcoin, Sam Zell, founder and chairman of Fairness Group Investments, mentioned he’s staying away from cryptocurrency.

Zell, whose internet value is estimated at $5.8 billion, reiterated his anti-bitcoin stance on Thursday in an interview with CNBC. Responding to a query about whether or not bitcoin is extra engaging to him now that its worth has fallen to the $21,000 stage, he identified:

I principally averted bitcoin in any respect prices.

The billionaire investor defined that the explanation he doesn’t spend money on BTC it is simply because he does not perceive it.

“I do not perceive its safety… I do not perceive all of the losses which have occurred the place bitcoins have been siphoned out of establishments,” he defined.

The chief felt:

I feel that in the end any sort of foreign money with out the backing of a authorities ultimately is unlikely to work.

In conclusion, Zell described, “I did not take part. I used to be very important of him and proceed to be. I feel bitcoin at $21,000 is cheaper than it was at $40,000, nevertheless it’s not low cost.

The billionaire investor mentioned in December 2020 that he was “very skeptical” of bitcoin. Nonetheless, he famous that “In the end, it could be the reply or one of many solutions. However proper now, it is a world terribly populated with chameleons and different fast-talking characters. I do not suppose everybody concerned is the sort of particular person I wish to comply with.

What do you consider Sam Zell’s bitcoin stance? Tell us within the feedback part under.

Kevin Helms

An economics pupil from Austria, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His pursuits embrace Bitcoin safety, open supply programs, community results, and the intersection between economics and cryptography.

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