Billionaire David Rubenstein Says ‘Unrealistic’ to Suppose Authorities Will Cease Cryptocurrency From Being What Traders Need – Regulation Bitcoin Information

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The Carlyle Group’s co-founder, David Rubenstein, says that the thought of the federal government stopping cryptocurrency from being one thing that buyers need is unrealistic. He believes that cryptocurrency is right here to remain. It’s not going away as “It’s clearly one thing that the market desires,” he stated.

David Rubenstein Bullish About Crypto

David Rubenstein, co-founder and co-chairman of Carlyle’s Board of Administrators, talked about bitcoin and the way forward for cryptocurrency in an interview with CNBC final week. He beforehand served as co-chief government officer of The Carlyle Group, a non-public fairness, asset administration, and monetary providers company. In 2015, Carlyle was the world’s largest non-public fairness agency by capital raised over the earlier 5 years, in keeping with the PEI 300 index.

Rubenstein stated: “Crypto has come from nowhere to be a power available in the market. It’s in impact a gold substitute for some. … It’s right here to remain. Cryptocurrency is just not going away, similar to gold is just not going away.” He added:

The concept that the federal government goes to cease cryptocurrency from being one thing buyers need is unrealistic.

The Carlyle Group’s government famous that cryptocurrency “has its ups and downs.” Nevertheless, he emphasised: “that’s true of something that’s comparatively new, and I don’t suppose you’re going to see something like crypto going away and disappearing.”

He continued: “It’s right here and it’s right here as a result of folks available in the market need one thing different than simply the standard currencies that we now have, and whether or not that’s proper or improper, it’s clearly one thing that the market desires.”

Rubenstein emphasised that “When you go into cryptocurrency, you must anticipate huge ups and downs and large fluctuations, and in case you are not ready for that, don’t go into cryptocurrency.”

The crypto group welcomes Rubenstein’s feedback. Michael Saylor, the pro-bitcoin CEO of the Nasdaq-listed firm Microstrategy, which has amassed about 92 BTC to date, commented:

That is auspicious for bitcoin coming from David Rubenstein. He’s chairman of the Kennedy Heart for the Performing Arts, former chairman of the Smithsonian Establishment, chairman of the Council on International Relations, & president of The Financial Membership of Washington, D.C.

What do you consider David Rubenstein’s feedback about bitcoin and cryptocurrency? Tell us within the feedback part beneath.

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