A lot of people around the world want to be able to trade in a currency that their government can’t know what they have and they want to be able to move it around rightly or wrongly, and so I don’t think Bitcoin is going away, said David Rubenstein, co-founder and co-chairman of private equity giant Carlyle Group. The billionaire private equity titan believes that Bitcoin (BTC) is here to stay due to growing institutional interest, such as BlackRock’s application for a spot Bitcoin ETF, as well as global demand for a form of money that can’t be controlled by governments.
Rubenstein admitted his regrets for not having bought Bitcoin when it was at $100, and believes that people who once mocked the crypto and the sector in general might be forced to take another look given recent interest from traditional finance giants like BlackRock. He has previously disclosed that he is personally invested in companies that facilitate crypto trading, although not owning any cryptocurrencies directly.
Speaking about recent enforcement actions from the U.S. Securities and Exchange Commission (SEC), Rubenstein said that Ripple’s win in a recent case proves that the agency has not yet convinced the courts that cryptocurrencies are bad.