Billionaire David Rubenstein Affirms Bitcoin’s Endurance Amidst Global Surge in Enthusiasm.
In a recent conversation with Bloomberg, the renowned investor and co-founder of Carlyle Group, a financial services powerhouse, emphasized that Bitcoin’s longevity is assured due to an overwhelming surge of interest in the primary cryptocurrency sweeping across the world.
Rubenstein highlighted that the fascination with Bitcoin (BTC) and other significant crypto assets is gaining momentum on a global scale as individuals increasingly value private transactions.
“At present, with interest rates positioned at such elevated levels, traditional assets like gold aren’t essential for securing substantial returns, given the 5% yield on treasuries. However, this 5% return will likely diminish in the future. I am confident that Bitcoin and other established cryptocurrencies will not fade away. A widespread desire exists globally for the ability to transact privately, outside of governmental oversight. While some might argue against such behavior, it won’t dissuade people from pursuing it.”
Rubenstein underscored the divergence of opinions on cryptocurrencies among US officials, but he noted a growing openness in the rest of the world. He pointed out the strong craving for an alternate currency that exists independently from government control.
“While the Democratic members of Congress, particularly those overseeing regulatory bodies like the SEC, might maintain skepticism toward Bitcoin and other cryptocurrencies, the international interest remains substantial. The downfall of FTX, for instance, left a significant impact… Nonetheless, a considerable number of individuals worldwide wish to engage in transactions with a currency that eludes government surveillance, regardless of the ethical considerations. Thus, I firmly believe that Bitcoin’s significance will endure. It’s noteworthy that the Republican representatives in the Capitol have been notably supportive.”
Presently, the SEC has ongoing legal actions against Coinbase and Binance, two of the world’s largest crypto exchanges, alleging the sale of unregistered securities.
As of the time of writing, Bitcoin is trading at $29,735, reflecting a slight increase over the past 24 hours.
