Despite regulatory pressures, billionaire businessman David Rubenstein says he is still bullish on the crypto assets industry. In a recent tweet, Rubenstein added that he expects the United States government to be more subtle with its crypto regulation. This is good news for the industry, as over-regulation could have negative consequences. Carlyle co-founder David Rubenstein is one of many high-profile investors who have invested money into crypto companies.
Rubenstein shared his thoughts to shed some light on the crypto view from Congress. Although many companies have been hurt by recent declines in prices and hiring trends that may need time for adjustment, he believes cryptocurrencies are here to stay.
He was once highly critical of cryptocurrency but has now changed his stance. He now believes that digital assets have a place in a portfolio and offer an interesting way to store value. He said he has invested in crypto companies and doesn’t expect Congress to over-regulate the industry.
These sentiments are encouraging, as they suggest that even those initially skeptical of crypto are starting to see its potential. With more mainstream investors like Rubenstein getting involved, it’s only a matter of time before crypto becomes even more mainstream. So far, regulation has been the biggest obstacle to mass adoption. But if leading figures like Rubenstein are any indication, that may soon change.
David Rubenstein’s Crypto Prediction
According to Rubenstein, the most successful people in life are the ones who ignore conventional wisdom and do what they believe is right. The crypto industry is booming because of young people who want to make a difference. They’re unafraid of risk and are willing to challenge the status quo.
In his tweet, venture capitalist Rubenstein drew an analogy between the crypto industry and the personal computers boom of the 2000s. According to Rubenstein, crypto is down right now, but that doesn’t mean you should give up on it. He said he invested personally in companies that service the crypto industry, and they’re all doing great.
The US Congress is currently in the process of drafting a bill that will provide clarity on how crypto assets should be regulated. The bill is still in its early stages, but it’s already clear that Congress is taking a cautious approach to regulation.
Rubenstein said that he believes members of Congress will be fair and protective towards the industry rather than regulate it heavily. With a majority of representatives in Congress being republican and libertarian, it’s no surprise that crypto has taken root there.
When asked about his crypto investments, he said that one of them was Paxos. He believes that some blockchain companies will succeed despite the pressures of being in this ecosystem. It’s always difficult to predict the future, but it seems Rubenstein is confident that crypto will eventually rebound.
The industry remains in flux, but that could all change in the future. One thing is for sure: the crypto space is one to watch closely!
Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)