{"id":15076,"date":"2021-12-08T00:54:09","date_gmt":"2021-12-08T00:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/billionaire-barry-sternlicht-discusses-bitcoin-price-rising-to-1-million-calls-btc-a-smart-hedge\/"},"modified":"2021-12-08T00:54:09","modified_gmt":"2021-12-08T00:54:09","slug":"billionaire-barry-sternlicht-discusses-bitcoin-price-rising-to-1-million-calls-btc-a-smart-hedge","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/billionaire-barry-sternlicht-discusses-bitcoin-price-rising-to-1-million-calls-btc-a-smart-hedge\/","title":{"rendered":"Billionaire Barry Sternlicht Discusses Bitcoin Price Rising to $1 Million \u2014 Calls BTC a \u2018Smart\u2019 Hedge"},"content":{"rendered":"

The chairman of Starwood Capital Group, billionaire Barry Sternlicht, has shared his view on how bitcoin could grow to be worth a million dollars a coin. He calls the cryptocurrency a \u201csmart\u201d hedge in a world where the government just keeps on printing money.
<\/strong><\/p>\n

Billionaire Barry Sternlicht Believes Bitcoin Could Rise to $1 Million per Coin<\/h2>\n

Billionaire Barry Sternlicht, the chairman of Starwood Capital Group, talked about the future outlook for cryptocurrencies, particularly bitcoin, Friday while speaking at a Bloomberg event in Miami.<\/p>\n

Sternlicht runs Starwood Capital Group, a private equity firm that specializes in real estate investments. The firm has about $100 billion under management in real estate, debt, and energy assets. According to Forbes\u2019 list of billionaires, his current net worth is $4.2 billion.<\/p>\n

Noting that he has called his bitcoin position a \u201cgreat hedge,\u201d the billionaire was asked, \u201cIs that how we all should be thinking?\u201d Sternlicht firmly replied, \u201cYes.\u201d<\/p>\n

He explained that we live \u201cIn a world where the government just prints money, and prints money, and prints money, and prints money, and doesn\u2019t seem to have any consequences.\u201d Noting that \u201cSometimes, that will end,\u201d the billionaire stressed:<\/p>\n

The only thing that they can\u2019t make more of is bitcoin.<\/p>\n

He added that bitcoin has \u201cnever been hacked,\u201d but noted that \u201cIt has no real value other than there\u2019s 21 million coins\u201d that are \u201cinfinitely divisible.\u201d<\/p>\n

In comparison, he pointed out that gold also \u201creally doesn\u2019t have a lot of value,\u201d adding that \u201cYou can have your gold jewelry but it could be silver or titanium or platinum.\u201d<\/p>\n

Sternlicht opined: \u201cYou could see the world saying to the U.S., especially with our political isolationism, they would say China is going to try to knock us off the dollar standard, and they are going to have a lot of countries aligned with them.\u201d<\/p>\n

The Starwood Capital executive emphasized: \u201cThey are going to try really hard. It\u2019s very obvious. They are going to try really hard to break the dollar standard. If that happens and the dollar devalues, you need one thing that could hold its value.\u201d<\/p>\n

While admitting that bitcoin \u201cwill go down with the stock market,\u201d he stressed that in his opinion, \u201cit will reverse,\u201d elaborating:<\/p>\n

It would go to $1 million a coin. It could do that because everyone, it\u2019s not U.S. investors, the whole world will look at one thing that they can\u2019t make more of and that would be bitcoin.<\/p>\n

\u201cThere\u2019s no function other than a store of value so having a little investment in bitcoin, I think, might be a smart little hedge in your life because your paper will be worthless, unfortunately,\u201d he warned.<\/p>\n

The billionaire then disclosed that he has about 2% to 3% of his net worth in cryptocurrencies. Regarding crypto investment, he said: \u201cIf it goes to zero, it won\u2019t hurt me either, it won\u2019t hurt you.\u201d However, he emphasized:<\/p>\n

But if it goes to $1 million a coin, you are going to look at the TV and get very upset.<\/p>\n

A growing number of billionaires are using bitcoin to hedge<\/a> against inflation.<\/p>\n

Famed hedge fund manager Paul Tudor Jones<\/a> said in October that he preferred bitcoin over gold. Orlando Bravo<\/a>, the billionaire who co-founded private equity firm Thoma Bravo, said in September that he is very bullish about bitcoin, expecting it to increase \u201csignificantly.\u201d<\/p>\n

Last week, Mexican billionaire Ricardo Salinas Pliego<\/a> said the U.S. \u201cis looking more and more like any other irresponsible third world country.\u201d Salinas tweeted a weekly chart of the total value of the Federal Reserve\u2019s assets (less eliminations from consolidation) and commented: \u201cWow\u2026look at the scale of fake money creation. Buy bitcoin right now.\u201d<\/p>\n

Do you agree with Barry Sternlicht about bitcoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nMarkets and Prices, $1 million per bitcoin, $1M, 1 million bitcoin, 1 million BTC, Barry Sternlicht, Barry Sternlicht bitcoin, Barry Sternlicht crypto, Barry Sternlicht cryptocurrency, Bitcoin, bitcoin hedge, BTC, hedge inflation, print money<\/p>\n","protected":false},"excerpt":{"rendered":"

The chairman of Starwood Capital Group, billionaire Barry Sternlicht, has shared his view on how bitcoin could grow to be worth a million dollars a coin. He calls the cryptocurrency a \u201csmart\u201d hedge in a world where the government just keeps on printing money. Billionaire Barry Sternlicht Believes Bitcoin Could Rise to $1 Million per…<\/p>\n","protected":false},"author":0,"featured_media":15077,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-15076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15076"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=15076"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/15077"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=15076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=15076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=15076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}