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Billionaire businessman David Rubenstein has said he is bullish on the cryptocurrency industry. He also shed light on Congress’ views on cryptocurrencies and its position to regulate the industry. He explained that although some companies have been hit by the recent price drop, the industry will survive.
Businessmen used to skeptical of crypto But now it supports emerging industries.
A billionaire investor said defying conventional wisdom is the most successful. The growth of the crypto industry, he added. Rubenstein compared his PC boom in the 2000s to the cryptocurrency industry.
I am bullish on cryptocurrencies in the sense that the greatest luck comes when people defy conventional wisdom. Not only have I personally invested in companies that surround the industry, but they also serve the industry.
Asked if he was referring to companies like Coinbase, Rubenstein said he was referring to such companies. They really arent doing so well these days. Theyve been struggling with the decline of crypto lately.
Rubenstein said he doesn’t believe members of Congress will unfairly regulate the industry.Cryptocurrencies are very powerful in Congress, he said, and they tend to be republican, libertarian and ready to spend lobbying. Recent revelations of Sam Bankman Freed He spends a lot of time lobbying for cryptocurrencies on Congress in Washington DC. Asked about the FTX CEO’s investment in cryptocurrency companies when the industry was in crisis, Rubenstein said he did a pretty good job.
“Young people tend to have the intelligence to anticipate trends. It’s not 70-somethings to say, ‘Let’s get into the computer.’ It was the people in his 20s who set the trends, and now it’s the crypto people who are pushing this forward. “
When asked about his investments in cryptocurrencies, he said he invested in Paxos. He added that despite some of the pressures that come with the crypto ecosystem, some blockchain companies will succeed.
The content presented may contain the author’s personal opinions and is subject to market conditions. Do market research before investing in cryptocurrencies. The author or publication accepts no responsibility for your personal financial loss.
