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Billionaire David Rubenstein Says It is ‘Unrealistic’ To Suppose Authorities Will Cease Cryptocurrency From Being What Traders Need – Bitcoin Information Settlement

Carlyle Group co-founder David Rubenstein says the concept the federal government is stopping cryptocurrency from being one thing traders need is unrealistic. He thinks cryptocurrency is right here to remain. It would not go away as a result of “it is clearly one thing the market needs,” he mentioned.

David Rubenstein bullish on crypto

David Rubenstein, co-founder and co-chair of the Carlyle board, spoke about bitcoin and the way forward for cryptocurrency in an interview with CNBC final week. He beforehand served as Co-Managing Director of The Carlyle Group, a non-public fairness, asset administration and monetary companies agency. In 2015, Carlyle was the world’s largest personal fairness agency when it comes to capital raised over the earlier 5 years, in line with the PEI 300 Index.

Rubenstein mentioned, “Crypto got here out of nowhere to be a drive available in the market. It’s truly a gold substitute for some. … He is right here to remain. Cryptocurrency will not be disappearing, similar to gold will not be. ” He added:

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

Group chief Carlyle famous that cryptocurrency “has its ups and downs.” Nonetheless, he identified, “That is true of something comparatively new, and I do not assume you are going to see something like crypto go and go.”

He continued, “It is right here and it is right here as a result of folks available in the market need one thing apart from the normal currencies that now we have, and whether or not it is true or false, it is clearly one thing the market needs. . “

Rubenstein identified that “if you’re going into cryptocurrency you must anticipate large ups and downs and large swings, and if you’re not ready for that, do not go into cryptocurrency. . “

The crypto neighborhood welcomes Rubenstein’s feedback. Michael Saylor, pro-bitcoin CEO of Microstrategy, a Nasdaq-listed firm, who amassed about 92 BTC to this point commented:

This bodes nicely for bitcoin coming from David Rubenstein. He’s president of the Kennedy Heart for the Performing Arts, previous president of the Smithsonian Establishment, president of the Council on Overseas Relations and president of the Financial Membership of Washington, DC

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

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