Billionaire David Rubenstein confirmed his bullish stance on the crypto industry. Regardless of regulatory pressures. He forecasted that some blockchain firms would succeed in the future. He also commented on Congress’ standpoint on cryptocurrency and monitoring the industry.
Rubenstein believes the market is here to stay, regardless of the latest price plunges. Remember, the businessman had been skeptical about the crypto space before his current support of the emerging market.
Rubenstein’s Crypto Prediction
David Rubenstein stated that things that are against conventional wisdom succeed the most. He added that the crypto market enjoys support from the gen z. Also, he compares the digital assets craze with the PC boom of the 2000s.
Rubenstein believes the crypto market has a future in finance (despite the current drawdowns). He confirmed his investments in firms surrounding the cryptocurrency industry.
Does that mean the likes of Coinbase? He said those forms of companies. The billionaire noted that these companies didn’t fare well lately because of the market meltdown.
Congress – Its Crypto Regulatory View
Rubenstein stated that the Congress members might not regulate the market unduly. He added that the cryptocurrency is strong in Congress and prepared to spend on politicization.
Also, he pointed out the latest Sam Bankman-Fried’s revelation that he uses most of his time lobbying Washington DC Congress for Crypto. Also, he commented on FTX CEO’s crypto investments when the market endured a crisis. Rubenstein said the CEO did a lucrative job.
Young individuals are intelligent in pushing new trends. For instance, individuals in the 70s would unlikely jump into personal computers more than people in their 20s.
When questioned about his cryptocurrency investments, Rubenstein said he’s a Paxos investor. He trusts some blockchain firms would succeed regardless of the pressures within the crypto space.
As he stated, the crypto market remains deteriorated at the moment. The space remained weak during this publication, within Bitcoin wavering around $20K. The bellwether crypto changed hands at $20,193 during this publication. Meanwhile, bears threatened further drawdown.
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