Blackstone’s CEO dismisses bitcoin, saying he's not going to own any

Stephen Schwarzman, the CEO, chairman and co-founder of investment giant Blackstone Group Inc., is not a fan of bitcoin ($BTC). “I don’t have much interest in that because it’s hard for me to understand,” Schwarzman, who leads the firm with over $500 billion of assets under management, told Fortune in an interview published Tuesday. He added that he is not going to own any bitcoin. Schwarzman believes that government-issued currencies are safer as these “control bad behavior” and ensure that the economy is “as insulated as it can be from excesses.”