During an interview with CNBC’s Squawk Box show, Barry Sternlicht, the co-founder of Starwood Capital Group, said that gold is actually “worthless.” And that he is betting on Bitcoin (BTC) because all the governments of the “western hemisphere” are printing endless amounts of money. However, he said that Ethereum has more desirable traits than Bitcoin itself.
Sternlicht is estimated to have a net worth of about $ 4.4 billion and is known for his investments in the real estate market through Starwood Capital Group.
For his part, he mentioned that gold has no value, like silver, which is why he is a follower of Bitcoin and cryptocurrencies. Sternlicht also went on to qualify his support for Bitcoin with praise for Ethereum.
“Bitcoin is a dumb currency, it has no real purpose other than a store of value, and it is insanely volatile. So Ether, I own a little bit of it, it’s a programmable Bitcoin and there are tons of other currencies that are built on top of that system.
Ethereum price reached $ 3,800
Ethereum’s price traded above $ 3,800, at the time of writing, it stands at $ 3,876. Registering a growing variation of 2.86% in the last 24 hours, according to what is indicated by our internal tool, crypto online.
Meanwhile, Ether bulls are poised for a $ 53 million profit on the expiration of weekly options this Friday.
The third quarter saw a significant recovery in the cryptocurrency market from the May crash
According to the CoinGecko report, Bitcoin (BTC), gambling ‘coins’ and non-fungible tokens (NFTs) dominated the crypto market space in the third quarter of this year.
Gaming tokens like Axie Infinity (AXS), Illuvium (ILV) and Gala (GALA), as well as the NFT space in general, also posted massive gains in the third quarter.
AXS, in particular, posted nearly 1,000% QoQ earnings, with its performance in 2021 topping 13,700%.
In terms of NFT trading volume, OpenSea continued to dominate the market segment. In fact, OpenSea and Rarible posted a total trading volume of around $ 6.8 billion in the third quarter according to the CoinGecko report.
Aurora Raises $ 12 Million In Debut Funds To Scale Ethereum Ecosystem
Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol. It has announced a seed funding round of $ 12 million.
The round included more than 100 venture capital investors, including Pantera Capital and Electric Capital.
According to an official statement, Aurora will use the funds to expand cross-chain capabilities beyond its current offering. As well as hiring specialized developers to support Ethereum’s scaling growth.
The Next Bitcoins and Ethers by Former Goldman Sachs Executive
Raoul Pal, former executive of the investment bank Goldman Sachs and current executive director of Real Vision, commented on what the cryptocurrencies may become that could grow almost exponentially as Bitcoin and Ethereum did in recent times.
Along these lines, Pal believes that there are four cryptocurrencies that could follow this path and become the next leaders in the sector. They would be: Solana (SOL), Terra (LUNA), Avalanche (AVAX) and Polkadot (DOT).