Billionaire David Rubenstein Bullish on Crypto and Optimistic About Regulation

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Billionaire David Rubenstein Bullish on Crypto and Optimistic About Regulation – The founder of the Carlyle Group, billionaire David Rubenstein, believes that American legislators won’t push undue pressure to regulate the crypto sector. The billionaire investor said: “The greatest fortunes are made when people go against conventional wisdom,” noting that he is bullish on cryptocurrencies.

When asked if he was bullish about cryptocurrencies, the billionaire responded as follows: “I’m bullish in the sense that I think the greatest fortunes are made when people go against conventional wisdom.” “Who knows where crypto’s going to be but right now crypto’s been beaten down dramatically,” he pointed out, indicating opportunities in the sector.

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Then, he declared that he invests in cryptocurrencies. The co-founder of the Carlyle Group said, “I’ve personally invested in the firms that surround the industry, not just the cryptocurrencies themselves but companies that service the industry. One of these companies is Coinbase (Nasdaq: COIN), according to Rubenstein, who added that because of the drop in cryptocurrency prices, these businesses “have not actually done that well lately.”

Nonetheless, Rubenstein stressed: “But in time, I think the industry is not going away.”

At first, the billionaire had doubts about cryptocurrencies. He did, however, admit that he had a change of heart about cryptocurrencies in April. He stated to the news source that, in his opinion, “Members of Congress are not going to attempt to regulate this industry unduly” in regards to cryptocurrency legislation.

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Rubenstein opined:

“The crypto constituency is very strong in Congress. They tend to be Republican, libertarian, and very willing to spend money on lobbying.”

“I think the industry is not going to be soft in dealing with members of Congress. I think they’re going to be fairly aggressive, and I think members of Congress will act by not pushing regulations to do more than they are already doing,” the Carlyle Group co-founder further noted.

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