Sam Zell Remains Bearish on Bitcoin Despite Massive Drop

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Sam Zell Remains Bearish on Bitcoin Despite Massive Drop
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Billionaire Sam Zell is not interested in Bitcoin

has pointed to the cryptocurrency's strong fundamentals to make the case that Bitcoin is actually cheaper than it looks right now.

Zell is among those who have been dismissing cryptocurrencies for years. In December 2020, he said that he was"skeptical of Bitcoin," but he admitted that it could be the answer. Equity Group Investments, Zell's private investment firm, was founded by the billionaire more than 50 years ago. It is known for its original and contrarian approach to investing.Last May, Zell revealed that he had bought gold due to growing inflation that he claimed was reminiscent of the 1970s.

However, just like Bitcoin, gold has seemingly failed the inflation test, recently dipping to the lowest level in 18 months.

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