David Rubenstein stated that after claiming that cryptocurrencies will no longer be in our lives, governments cannot prevent Cryptocurrency investors from investing.
Former President of the Smithsonian Institution David Rubenstein stated that governments seeking to stop cryptocurrencies are “unrealistic at this point.” Moreover, he outlined the important role of digital assets in the financial industry and claimed that they are not going anywhere.
Carlyle Group President David Rubenstein says governments can’t stop cryptocurrencies
With the tremendous growth of the crypto market over the past year, numerous experts have expressed concern from governments around the world about a potential ban implementations and its implications for the industry.
However, David Rubenstein, President of the Kennedy Center for Performing Arts and Co-Founder of American private equity firm The Carlyle Group, believes there is no such possibility.
In an interview with CNBC, the US billionaire and philanthropist said that cryptocurrencies exist and thrive because “people in the market want something different from traditional currency.” He claimed that digital assets “will exist in our lives” and stated that governments cannot stop their progress.
Rubenstein: “The idea that the cryptocurrency will disappear or the government will stop the investors of the cryptocurrency is unrealistic at this point.” said.
Commenting on this week’s big market crash, Rubenstein said that investors in the industry should expect significant ups and downs from such a relatively new invention. It also warned those who are not prepared to face increased volatility to stay away from this market.
Rubenstein said that although he has not invested directly in any digital assets, he allocates the funds to companies in the industry.
The Effect of Rubenstein’s Words
Shortly after the interview, numerous crypto advocates shared Rubenstein’s positive approach on Twitter. Among them, Michael Saylor, CEO of MicroStrategy, was among the first. In addition to listing Rubenstein’s current and former compliments, the manager described his words as “good for Bitcoin”.
“This is really important,” said Galaxy Digital CEO Michael Novogratz, describing Rubenstein as “one of the most respected investors with the best DC ties ever.”
Travis Kling, Founder and CIO of Ikigai Asset, reminded Rubenstein that “Jay Powell was the man who hired him before he came to the Fed and was Jay Powell’s boss for 8 years.” He also runs the largest and most bankruptcy history PE companies in the world, referring to The Carlyle Group. said.