Carlyle Group CEO David Rubenstein Says Bitcoin is Here to Stay – Here’s the Latest
Yesterday, in a much-talked about conversation with Bloomberg, David Rubenstein, co-founder and co-chairman of the Carlyle Group, confidently spoke of Bitcoin’s longevity as an important financial asset, further solidifying the lead cryptocurrency’s foray into mainstream finance and investment circles.
Rubenstein touched upon the increasing interest institutions have shown in Bitcoin, the global demand for a currency beyond governmental control, and how even major financial institutions are now reconsidering their stance on cryptocurrencies.
Institutional Interest Peaks
Highlighting the shift in sentiment, Rubenstein pointed out BlackRock’s recent move to apply for a Bitcoin ETF. BlackRock, being a dominant player in the financial sector, indicates the depth and spread of cryptocurrency acceptance in the financial community.
“A lot of people around the world want to be able to trade in a currency that their government can’t know what they have,” Rubenstein stated. “And they want to be able to move it around rightly or wrongly, and so I don’t think Bitcoin is going away.”
It’s actually insane how close we are to institutional adoption, and most people still think crypto/bitcoin is irrelevant 🤯
— NPC (@GetWreckedFiat) August 9, 2023
Regrets and Realizations
Looking back, Rubenstein shared his personal regret of missing out on the opportunity to invest in Bitcoin when it was priced at $100.
With leading figures like BlackRock giving nods to cryptocurrency products like ETFs, it brings Bitcoin into sharper focus.
“People made fun of Bitcoin and other cryptocurrencies. But now when someone like Larry Fink at BlackRock says they’re planning to have a Bitcoin ETF, it makes one think that maybe Bitcoin will stick around,” Rubenstein said.
Rubenstein’s Personal Stance
While Rubenstein clarified that he doesn’t directly own cryptocurrencies, he isn’t entirely disconnected either. He invests in companies that enable and simplify crypto trading for users, suggesting a trust in the infrastructure that supports these digital assets.
Lastly, Rubenstein touched on the actions of the U.S. Securities and Exchange Commission (SEC) under Gary Gensler. He also mentioned the July 13 ruling of Ripple vs. the SEC that saw the verdict drop in favor of Ripple–a clear sign that attempts to paint cryptocurrencies in a negative light don’t always find support in legal circles.
As cryptocurrencies continue to secure their place in the financial sector, prominent figures like David Rubenstein’s views resonate with the market’s evolving outlook. With increasing institutional interest and regulatory clarity, the future of Bitcoin and other cryptocurrencies looks bright.