The co-founder and co-chairman of the Carlyle Group, David Rubenstein, believes Bitcoin is here to stay thanks to the increasing institutional interest.
Billionaire private equity giant David says that we can see increasing institution adoption like BlackRock’s application for a spot bitcoin ETF, as well as the general global demand for a form of money that governments can’t control.
He said in an interview, “A lot of people around the world want to be able to trade in a currency that their government can’t know what they have and they want to be able to move it around rightly or wrongly and so I don’t think bitcoin is going away.”
David Rubenstein confessed that he regretted not buying Bitcoin at $100. Given the recent interest from finance giants like BlackRock, he added that people who earlier derided cryptocurrencies and the industry might be forced to take another look.
“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.
Rubenstein does not own any cryptocurrencies directly; however, he personally invests in companies that facilitate crypto trading.
Rubenstein also highlighted recent U.S. Securities and Exchange Commission (SEC) actions led by Chair Gary Gensler. He said Ripple’s recent ruling against SEC proves that the agency failed to convince the courts that cryptocurrencies are “bad.”
