Billionaire David Rubenstein Cheers For Crypto, Optimistic About Regulation – Bitcoin News Market & Price

Billionaire David Rubenstein Cheers For Crypto, Optimistic About Regulation – Bitcoin News Market & Price

Billionaire David Rubenstein, founder of the Carlyle Group, believes that US lawmakers will not press for unjustified regulation of the crypto industry. Noting that he is bullish on cryptocurrencies, the billionaire investor said, “The greatest fortunes are made when people go against conventional wisdom.”

David Rubenstein Bullish on Crypto

Billionaire investor David Rubenstein, co-founder of the Carlyle Group, one of the largest investment firms, shared his views on cryptocurrencies in an interview with CNBC on Thursday.

When asked if he was bullish on cryptocurrency, the billionaire explained:

I’m opinionated in the sense that I think the greatest fortunes are made when people go against conventional wisdom.

“Who knows where cryptocurrencies will be, but right now crypto is drastically beaten,” he pointed out, pointing to opportunities in the sector.

He then confirmed that he is a crypto investor. “Not only in cryptocurrencies, but I have personally invested in companies surrounding the industry, not only in cryptocurrencies themselves, but also in companies that serve the industry,” said the co-founder of the Carlyle Group. Coinbase (Nasdaq: COIN ) is an example of one of these companies, Rubenstein explained, adding that these companies “actually haven’t done that well lately” due to the decline in cryptocurrency prices.

However, Rubenstein emphasized:

But over time, I don’t think the industry will disappear.

The billionaire was initially skeptical of cryptocurrencies. However, in April he discovered that he changed his mind about the cryptogram.

Regarding the regulation of cryptocurrencies, he told the news outlet that, in his opinion, “members of Congress will not press for undue regulation of this industry.”

Rubenstein said:

The crypto constituency is very strong in Congress. They tend to be Republican, libertarian, and very willing to spend money on lobbying.

“I don’t think the industry is going to be soft on dealing with members of Congress. I think they’re going to be pretty aggressive, and I think members of Congress are going to act by not pushing the regulations to do more than they’re already doing,” the Carlyle Group co-founder further noted.

What do you think of billionaire David Rubenstein’s comments? Let us know in the comments section below.

Billionaire David Rubenstein Cheers For Crypto, Optimistic About Regulation – Bitcoin News Market & Price

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.




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