The Carlyle Groupâ€™s co-founder, David Rubenstein, says that the idea of the government stopping cryptocurrency from being something that investors want is unrealistic. He believes that cryptocurrency is here to stay. Itâ€™s not going away as â€œItâ€™s clearly something that the market wants,â€ he said.
David Rubenstein Bullish About Crypto
David Rubenstein, co-founder and co-chairman of Carlyleâ€™s Board of Directors, talked about bitcoin and the future of cryptocurrency in an interview with CNBC last week. He previously served as co-chief executive officer of The Carlyle Group, a private equity, asset management, and financial services corporation. In 2015, Carlyle was the worldâ€™s largest private equity firm by capital raised over the previous five years, according to the PEI 300 index.
Rubenstein said: â€œCrypto has come from nowhere to be a force in the market. Itâ€™s in effect a gold substitute for some. â€¦ Itâ€™s here to stay. Cryptocurrency is not going away, just like gold is not going away.â€ He added:
The Carlyle Groupâ€™s executive noted that cryptocurrency â€œhas its ups and downs.â€ However, he emphasized: â€œthatâ€™s true of anything thatâ€™s relatively new, and I donâ€™t think you are going to see anything like crypto going away and disappearing.â€
He continued: â€œItâ€™s here and itâ€™s here because people in the market want something other than just the traditional currencies that we have, and whether thatâ€™s right or wrong, itâ€™s clearly something that the market wants.â€
Rubenstein emphasized that â€œIf you go into cryptocurrency, you should expect big ups and downs and big fluctuations, and if you are not prepared for that, donâ€™t go into cryptocurrency.â€
The crypto community welcomes Rubensteinâ€™s comments. Michael Saylor, the pro-bitcoin CEO of the Nasdaq-listed company Microstrategy, which has amassed about 92 BTC so far, commented:
What do you think about David Rubensteinâ€™s comments about bitcoin and cryptocurrency? Let us know in the comments section below.
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