Digital Assets: Billionaire PE Investor David Rubenstein Speaks Well Of Bitcoin

August 9, 2023 | Digital Assets, News

Rubenstein wished he bought bitcoin when it was $100.

Billionaire investor David Rubenstein, co-founder of The Carlyle Group, said he believed Bitcoin was here to stay due to its significant and enduring appeal.

“What’s happened is people made fun of bitcoin and other crypto currencies but now the establishment, Larry Fink at BlackRock, is now saying they’re going to have an ETF if approved by the government in bitcoin so you’re saying wait a second, the mighty BlackRock is willing to have an ETF in bitcoin, maybe bitcoin is going to be around for a while,” he said. (CoinDesk)

Rubenstein highlighted the widespread interest in the leading cryptocurrency and the desire for private and government-free transactions and regretted not investing in Bitcoin early on.

He went on to acknowledge its transformation from being an object of ridicule to gaining mainstream acceptance. In validation, he pointed out that major financial players like BlackRock and Fidelity are seeking to establish a Bitcoin exchange-traded fund (ETF), a trend that indicated a shift towards institutional endorsement.

Also, in his view, the growing demand for a currency beyond government control has contributed to Bitcoin’s permanence. Moreover, despite regulatory challenges, Rubenstein referenced Ripple’s recent legal victory as a sign that the U.S. Securities and Exchange Commission (SEC) has yet to establish before the courts that cryptocurrencies are inherently problematic.

While Rubenstein admitted to not owning cryptocurrencies directly, he previously disclosed investments in companies facilitating crypto trading.

Overall, he stressed that the broad and sustained interest in Bitcoin, demonstrated by the engagement of major financial institutions and the desire for decentralized currency, solidifies its position in the financial landscape.

Related Story:  Standard Chartered Projects $120K Price For Bitcoin By End-2024

Image Credit: Flickr

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