Billionaire private equity leader David Rubenstein of the Carlyle Group envisions a bright future for Bitcoin, citing growing institutional interest and general global demand for a currency independent of government control.
According to a report by CoindDesk, David Rubenstein, co-founder and co-chairman of private equity giant Carlyle Group, believes that Bitcoin is here to stay due to increasing institutional interest and a rising global demand for a form of currency that governments can't control. Signs of this shift include asset management leader BlackRock's application for a spot bitcoin ETF.
During a Bloomberg TV appearance, Rubenstein highlighted that many people worldwide seek a currency that allows them to trade discreetly and move their funds, making Bitcoin a desirable option. The co-founder expressed regret for not having bought Bitcoin when it was valued at $100 and pointed out that even those who once mocked the cryptocurrency may reconsider because of interest from traditional finance giants like BlackRock.
Rubenstein, who has investments in companies that facilitate crypto trading but does not own any cryptocurrencies directly, also commented on recent U.S. Securities and Exchange Commission (SEC) enforcement actions. In his opinion, Ripple's recent court victory shows that the SEC hasn't managed to convince the judicial system that cryptocurrencies are inherently "bad."