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Billionaire Sam Zell Questions Bitcoin And Warns The US Dollar May Lose Its Reserve Status
Summary: According to Business Insider, Sam Zell, a billionaire investor, and real estate tycoon talked about Bitcoin and the U.S. dollar at a recent conference. Zell was skeptical about Bitcoin and said: "I am very skeptical, frankly, of Bitcoin. Ultimately, it may be the answer or one of the answers. But right now, it’s a world ...
According to Business Insider, Sam Zell, a billionaire investor, and real estate tycoon talked about Bitcoin and the U.S. dollar at a recent conference. Zell was skeptical about Bitcoin and said: "I am very skeptical, frankly, of Bitcoin. Ultimately, it may be the answer or one of the answers. But right now, it’s a world that’s extraordinarily populated by chameleons and other fast-talking characters. I don’t believe everybody involved in it are the kind of people I’d like to follow."
Zell also stated that the biggest risk at the moment is the status of the dollar's reserve currency. If the government continues to pour dollars into the market, the U.S. dollar may lose its status as a reserve currency within 10-15 years, and people's living standards may drop by 25%. He added: "Unlimited debt and irresponsible activity don’t lead to positive outcomes. That’s a disastrous kind of scenario."
By Mary Liu
Tags: Bitcoin,Dollar,Reserve Currency,Sam Zell
Link: Billionaire Sam Zell Questions Bitcoin And Warns The US Dollar May Lose Its Reserve Status [Copy]
