According to Al-Ain News, Egyptian billionaire businessman Naguib Sawiris, the heir to Egyptian construction magnate Onsi Sawiris, is not interested in Bitcoin. While acknowledging that cryptocurrencies may be a good investment for some, the 67-year-old businessman prefers to stay out of it.
Sawiris is a strong supporter of gold. In April, he indicated that the yellow metal might account for about a third of his investment portfolio. According to Sawiris, a long-term gold investor, you should invest significantly more money in gold.
When asked if he believes the stock market would crash, he says prices have been high for a "very long time" and will "inevitably" decline. Samih Sawiris, Naguib Sawiris' millionaire brother, looks to be more crypto-friendly. His opulent Swiss hotel began taking Bitcoin and Ether in late August, according to U.Today. The telecom tycoon is concerned that Bitcoin might be hacked, causing its value to plummet.