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David Rubenstein, co-founder and co-chairman of global private equity firm Carlyle, believes cryptocurrencies are here to stay.
Rubestein aired his views on the crypto sector recent interview Bloomberg research suggests that worrying about government intervention or regulation and wanting to store money in something that authorities can’t control is a key factor that could drive them to cryptocurrencies. .
The billionaire businessman was talking to fellow billionaire Citadel founder and CEO Ken Griffin during the launch of Carlyle executives’ book How to Invest.
Asked what he thinks about cryptocurrencies as part of his views on investing, Rubesterin said he used to view it as gambling. But even then, he says, those who allocate part of their net worth to gambling or other ventures should only use what they can afford to lose.
“So for crypto, it’s been my take for a while. If you stare at a screen all day and take pleasure in saying that you made a lot of money in cryptocurrency, then you know you’ve allocated enough, and losing it wouldn’t be the end of the world.,” He said.
“I now believe that cryptocurrencies will not die as some people thought. You can argue that they are worthless, but in some ways, many things that people buy may be worthless.added Rubestein.
The veteran businessman also touched on the libertarian view of life aspect of cryptocurrencies. This is because the need to have assets that governments cannot control is increasingly seen in industry lobbying Congress for specific legislation.
According to him, this appears to be very effective at the moment, and in his opinion Congress will not over-regulate the cryptocurrency industry.
And he thinks cryptocurrencies might attract people who want to keep money away from governments, such as Russian oligarchs whose assets were confiscated as part of Western sanctions, or if China invaded Taiwan. He says that certain factors make cryptocurrencies like Chinese investors worry about the same thing.not the worst.
Why is this?
“You can move anywhere in the world. Government inflation does not reduce the value.Investing Part of Your Money Isn’t the Worst Thing,” he offered.
Rubestein said he has never personally invested in any particular cryptocurrency. However, he said, “Companies Serving Industry” He believes the industry as a whole will stay here.
And just like the Internet, computers, smartphone trends, or anything else in the past, young people are almost always at the forefront. The crypto revolution is no exception, he opined.
“People in their 70s usually don’t really start economic trends‘ he remarked.
