Summary: During an interview with CNBC Squawk Box, Barry Sternlicht, Starwood Capital Group CEO and founder said that gold is "kind of worthless" so he holds Bitcoin.  He said: "The reason I own Bitcoin is because the U.S. government and every government in the western hemisphere are printing money now to the end of time and ...

During an interview with CNBC Squawk Box, Barry Sternlicht, Starwood Capital Group CEO and founder said that gold is "kind of worthless" so he holds Bitcoin

He said: "The reason I own Bitcoin is because the U.S. government and every government in the western hemisphere are printing money now to the end of time and this is a finite amount of something and it can be traded globally." 

However, Sternlicht does not seem to be an extremist of BTC. He believes that Bitcoin has no specific purpose, but a store of value.

By Mary Liu