Billionaire David Rubenstein, founder of Carlyle Group, believes that US lawmakers will not push to unduly regulate the crypto industry. Noting that he is bullish on crypto, the billionaire investor said, “the greatest fortunes are made when people go against conventional wisdom.”
David Rubenstein bullish on crypto
Billionaire investor David Rubenstein, co-founder of the Carlyle Group, one of the world’s largest investment firms, shared his cryptocurrency outlook in an interview with CNBC on Thursday.
Responding to a question about whether he is bullish on cryptocurrency, the billionaire explained:
I’m optimistic in the sense that I think the greatest fortunes are made when people go against conventional wisdom.
“Who knows where crypto is going to be, but right now crypto has been beaten dramatically,” he pointed out, indicating the opportunities in the sector.
He then confirmed that he was a crypto investor. “Not just crypto itself, but I’ve personally invested in companies that surround the industry, not just cryptocurrencies themselves, but companies that serve the industry,” the co-founder said. of the Carlyle group. Coinbase (Nasdaq:COIN) is an example of one of these companies, Rubenstein said, adding that these companies “have not done really well lately” due to falling crypto prices.
Nevertheless, Rubenstein pointed out:
But over time, I don’t think the industry will go away.
The billionaire was skeptical about crypto at first. However, in April he revealed that he had changed his mind about crypto.
Regarding cryptocurrency regulation, he told the outlet that in his opinion, “members of Congress are not going to push to unduly regulate this industry.”
The crypto constituency is very strong in Congress. They tend to be Republican, Libertarian, and very willing to spend money on lobbying.
“I think the industry is not going to be soft on dealing with members of Congress. I think they’re going to be pretty aggressive, and I think Congressmen will act by not pushing the regulators to do more than they don’t already,” the Carlyle Group co-founder added.
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