Billionaire private-equity titan David Rubenstein believes Bitcoin (BTC) will grow thanks to growing institutional interest, as evidenced by BlackRock’s bid for a spot Bitcoin ETF, as well as general global demand for a form of money that isn’t owned by Governments can be controlled, will endure.
“A lot of people around the world want to be able to trade a currency that their government can’t know what they have and they want to be able to rightly or wrongly move it, and so I don’t think they can.” Bitcoin will go away,” he said during an appearance on Bloomberg TV on Tuesday.
Rubenstein, co-founder and co-chair of private equity giant Carlyle Group, admitted he regretted not buying Bitcoin when it cost $100. He said that given recent interest from traditional financial giants like BlackRock, people who once poked fun at cryptocurrency and the sector in general may be forced to take a different look.
“What has happened is that people have made fun of bitcoin and other cryptocurrencies, but now the establishment, BlackRock’s Larry Fink, is saying that they will have an ETF in bitcoin if it gets government approval, so say You: Hold on, the mighty BlackRock is willing to have an ETF in Bitcoin, maybe Bitcoin will be around for a while,” he said.
Rubenstein has previously disclosed that he is personally invested in companies that enable crypto trading, although he does not own cryptocurrencies directly.
Discussing recent enforcement actions by the US Securities and Exchange Commission (SEC) led by Gary Gensler, Rubenstein said Ripple’s victory in a recent case proves the agency has yet to convince the courts that cryptocurrencies ” bad”.
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