Blackstone co-founder Stephen Schwartzman: “I’m not interested in bitcoin”

Co-founder and chairman of the board of investment giant Blackstone Stephen Schwarzman (Stephen Schwarzman) said that he is not a supporter of bitcoin and does not plan to buy it.

“I’m not too interested in bitcoin, since it’s hard for me to understand it,” said Schwartzman.

The chairman of the board of the investment group managing the assets for $ 500 billion, said that he does not plan to buy and store cryptocurrency. In his opinion, currencies issued by states are much safer, because governments “control the use of currencies for bad purposes.” Also, states usually monitor excess cash and withdraw it from circulation.

“The very principle that you are exchanging money and no one knows anything about this can result in the use of an asset for crimes. It will be dirty money, money from selling drugs around the world. Bitcoin only encourages such activities, ”says Stephen Schwartzman.

However, the head of Blackstone is already 72 years old and he himself admits that it can be “narrow-minded”. Schwartzman emphasized that if the use of cryptocurrencies for illegal activities may be limited, then they “may well be a normal thing.”

Interestingly, although Stephen Schwartzman is quite negative about cryptocurrencies, he considers the blockchain technology itself to be much more useful. He even noted that Blackstone could well invest in blockchain companies.

Recently, a well-known investor Mark Mobius expressed the opinion that cryptocurrencies did not confirm the status of a safe asset.