Barry Sternlicht, a billionaire (worth $4.4 billion according to Forbes) CEO of Starwood Capital Group, said that he owns bitcoin and ether during his interview with CNBC on Wednesday.

According to Sternlicht, who is running an investment firm with more than $95 billion in assets under management, holding cryptos makes sense as a way of investment portfolio diversification. In addition, he replied to JPMorgan CEO Jamie Dimon’s comment on bitcoin being worthless, with the phrase “Gold is kind of worthless too.”