Naguib Sawiris will not take the risk of investing in Bitcoin
While acknowledging that cryptocurrencies could be a useful investment for some, the 67-year-old entrepreneur chooses to remain on the sidelines.
The telecom tycoon fears that Bitcoin could face a hacking attempt that could put a dent in its value.
Sawiris is a big proponent of gold. He said that almost a third of his investment portfolio could be allocated to the yellow metal in April.
Naguib Sawiris’s billionaire brother, Samih Sawiris, appears to be more crypto-friendly. As reported by U.Today, his luxurious Swiss hotel started accepting Bitcoin and Ether in late August.