American billionaire and financial analyst David Rubenstein believes that cryptocurrencies will continue to be part of the financial landscape for the next few years, and rules out that these digital assets will disappear.
In an interview conducted On May 20 by CNBC, the co-founder and co-chair of the global investment firm Carlyle Group, admitted that he has not directly bought cryptocurrencies, but he has invested in companies that facilitate the trading of crypto assets . Although he did not indicate which cryptocurrencies he invested in, nor the amount.
I made that investment in large part because I believe that cryptocurrencies are here to stay. Those digital assets won’t go away, just like gold hasn’t gone so far.
David Rubenstein, Co-founder of Carlyle Group.
Rubenstein is confident in the potential of digital assets like bitcoin and believes that there is no way to stop the interest in an alternative to the current financial system , such as cryptocurrencies. He further noted that some investors see bitcoin as a substitute for gold.
“(Bitcoin) is here because people in the market want more than the traditional currencies we have had,” the co-founder considered of Carlyle Group, adding that there is a great appetite among investors and the general public for an alternative to the current financial system .
The statements of the investor came a day after a fall of more than 30% in the price of bitcoin, which reached less than $ 30,000 on May 19, as reported by CriptoNoticias. In the following days it has recovered, at times, only a small part of the ground it had gained so far in 2021, once again reaching ranges that are close to $ 40,000 per unit.
In this regard, the financial analyst said that it is to be expected that the crypto-asset market will generate great ups and downs and fluctuations .
“If you are not prepared for that, do not go into cryptocurrencies,” he said. He thus recalled that it is normal for bitcoin to have its ups and downs. It just “wasn’t a good day,” Rubenstein added, referring to last Wednesday’s collapse. “But that’s true for everything that’s relatively new, and I don’t think they’re going to see something like cryptocurrencies disappearing,” he said.
In that sense, the founder of hedge fund SkyBridge Capital Anthony Scaramucci seconded Rubenstein’s opinion on volatility on the same CNBC show. There he analyzed the last 12 years of bitcoin, indicating that the fall was consistent with its history .
Regulations will scare investors away
Regarding the regulations that would apply to bitcoin and cryptocurrencies in the United States, David Rubenstein supports the idea that the measures applied by the government will scare away investors . However, he thinks that regulation “is somewhat unrealistic at the moment.”
It is worth remembering that, at the beginning of this month of May, the president of the Securities and Exchange Commission (SEC) , Gary Gensler said in an interview for CNBC that the United States seeks “greater protection for investors” of digital assets.
The head of the SEC told reporters that these regulations would help investors from “cryptographic tokens” to being certain that neither the market nor the public are being manipulated.
