Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
The billionaire president of Equity equity is the funds that would be returned to a company's shareholders if all of the company's assets were dissolved and all debts were paid off in the event of liquidation. Group Investments explains why he has stayed away from Bitcoin.
- Sam Zell is a multi-millionaire critic of the Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions.
- Considers that Bitcoin it is not safe
- Believes that a currency needs the backing of a government
Billionaires are a universe when we talk about cryptocurrencies, since they are divided into three clearly defined groups: those who have become rich thanks to cryptocurrencies, those who already had companies and capital capital is most commonly defined as the large sum of money you would use to invest. and have invested in them to diversify their wealth, and those who clearly reject them.
The latter group includes the billionaire founder and chairman of Equity Group InvestmentsSam Zell, who (contrary to investors such as the CEO of MicroStrategy, Michael Saylor, who says he will not sell his bitcoins never ), he expresses that will stay away from Bitcoin a toda costa. Explicó que no entiende la criptomoneda y cree que es poco probable que funcione una moneda sin el respaldo de un gobierno.
Zell, whose net worth is estimated at USD $5.8 billion, reiterated his anti-bitcoin stance and also his distrust of cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. in an interview yesterday with CNBC. Responding to a question about whether Bitcoin is more attractive to him now that its price has fallen to the USD $21,000 level, he stressed:
“I’ve basically stayed away from bitcoin at all costs.”
The billionaire investor explained that the reason he doesn’t invest investing is when you put money in a financial scheme with the intent of making a gain. in BTC is simply because he doesn’t understand it.
“I don’t understand their security… I don’t understand all the losses that have occurred when bitcoins have been diverted from institutions.” he explained.
Likewise, Zell opined, defending fiat fiat currency is “legal tender” backed by a central government, such as the Federal Reserve, and with its own banking system, such as fractional reserve banking. It can take the form of physical cash, or it can be represented electronically, such as with bank credit. money:
“I think when all is said and done, it’s unlikely that any kind of currency currency is a medium of exchange that defines value. will work without government backing in some way.”
Zell also made it clear that he doesn’t think it’s cheap at all, even at current prices:
“I have not participated. I’ve been very critical of it and I still am. I think Bitcoin at USD $21,000 is cheaper than at $40,000, but it’s not cheap.”
In addition, he gave his point of view on the interest rates set yesterday by the U.S. Federal Reserve. which finally stood at 0.75 per cent. In his view they should have been increased by a full point.
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