Equity Group Investments founder Samuel Zell said he never invested in bitcoin, because without government support, this cryptocurrency is doomed to failure.
In an interview with CNBC, American billionaire Samuel Zell said that he does not see the need to invest in bitcoin for the long term, even if he takes advantage of its fall to the level of $21,000. Zell explained that he has never tried to figure out cryptocurrencies and is trying to "hold on away from them."
“I don't understand the security of Bitcoin. I do not understand all the losses that private investors and institutions suffered because of its collapse, from which money is now simply siphoned. I don’t buy bitcoin, because I was very critical of it and continue to think so until now. Sure, $21,000 bitcoin is cheaper than $40,000, but it’s still very expensive,” Zell said.
He is convinced that no currency and no investment product can function normally without the support of the government. Now there are many "chameleon products" on the market, which are also quickly disappearing from it. And even if some large companies are ready to buy digital assets or implement them in their business processes, Zell will not follow them.
Another billionaire, Barry Sternlicht, has also always been opposed to cryptocurrencies. However, over time, he changed his mind about bitcoin and invested in it to protect his capital from inflation. JPMorgan CEO Jamie Dimon is also convinced of the uselessness of bitcoin, although this does not prevent the bank from providing customers with access to cryptocurrency funds.
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