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Oscar-nominated actor Terrence Howard is wrong about his claim that “Bitcoin is going to die,” real estate guru Grant Cardone says.
“Clearly Terence Howard doesn’t know what entrepreneurs like [Strategy Chair Michael Saylor], [Eric Trump] & myself are doing with BTC to enhance & evolve financial products,” Cardone said last week on X. “The way we combine BTC with real estate will change real estate investing forever.”
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Saylor, Trump and Cardone all manage Bitcoin treasuries in some form.
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Saylor’s Strategy (NASDAQ:MSTR) is the largest Bitcoin treasury company in the world. Trump is the co-founder of American Bitcoin (NASDAQ:ABTC), the 16th largest Bitcoin treasury company, according to BitcoinTreasuries.net. Cardone has launched a number of private funds in the past year that combine Bitcoin and real estate.
Cardone’s remarks suggest that the financialization of Bitcoin by these companies makes it unlikely that the asset will “die.”
For Cardone, Bitcoin is quite valuable. He has incorporated it into his real estate business, saying it brings liquidity to the typically illiquid real estate market. Its volatility also offers the potential for greater returns, he added.
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“Bitcoin is going to die,” Howard said on an episode of businessman and media personality Patrick Bet-David‘s “PBD” podcast released earlier this month. He said the digital asset was tied to the dollar, which is decreasing in value, adding that it could “be wiped out with the push of a button somewhere.”
Instead of Bitcoin, Howard said he was bullish on silver, citing its limited supply and growing demand in the building of renewable technologies, such as solar panels and electric vehicles.
Howard said the precious metal has been artificially suppressed, citing JPMorgan Chase & Co.’s (NYSE:JPM) $920 million settlement with the Commodity Futures Trading Commission for market manipulation in 2020. However, he suggested that the manipulation is now over, saying it will be worth thousands of dollars per troy ounce. It was most recently trading near $70 per ounce, down over 3% this year after a blistering run last year.
As entrepreneurs explore innovative ways to use Bitcoin and other alternative assets, investors can use Public’s self-directed platform to build their own crypto or stock portfolios and take control of their investing journey.
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This article Grant Cardone Responds To Actor Terrence Howard’s Claim That ‘Bitcoin Is Going To Die,’ Says The Actor Doesn’t Know What Entrepreneurs Are Doing With BTC originally appeared on Benzinga.com
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