Carly Group Founder Predicts the Future of the Crypto Industry
Despite recent setbacks in the crypto industry, many are still hoping for a better future outcome. In light of this, David Rubenstein declared his deep support for the crypto industry. David Rubenstein is the co-founder of The Carlyle Group, a global equity investment firm. Although many industries have been affected by the decline, Rubenstein believes they will survive.
The American billionaire businessman said he is optimistic about the digital asset industry. Regardless of the crypto regulatory constraint, Rubenstein speculated that some blockchain industries will be successful in the future. He also elucidated Congress’ views on the industry and its expectations for regulation.
Rubenstein’s Crypto Prediction
Apart from being a crypto-skeptic, the businessman is also a pro-crypto investor. The Billionaire said on CNBC’s Squawk Box that he still has hope for the future of the crypto industries. He said things that don’t generally conform to conventional wisdom thrive the most.
In 2022, the crypto market began to decline as investors worried about aggressive monetary policy tightening. This caused Bitcoin and Altcoins to drop significantly from their all-time highs. Also, many digital assets are losing value due to the recent market selling pressure.
Rubenstein claimed that he has invested in companies that serve the crypto industry. He predicted that the industry will not pack up even though it has not been doing well lately, due to the recent decline.
During the interview, Rubenstein revealed that he invested in Paxos. He is confident that blockchain companies will succeed despite the pressure on the crypto ecosystem.
The billionaire also explained that the growth drivers of the digital currency industry are young people. He compared the growth of the crypto industry to the spread of personal computers in the 2000s. By mid-2000, personal computers existed in more than half of households in the United States
Rubenstein also explained that young people know how to start and move trends. Older adults, on the other hand, do not set trends. In the same way, people are changing the trend because the younger generations strive to develop and encourage new ideas.
U.S. Congressional Support Regulations
Rubenstein reacted to widespread concerns that regulators could impede innovation and restrict the market. He said Congress would be fair in digital regulation. Rubenstein also thinks the digital sector has strong support at the congress. He said people are willing to spend to lobby congress for digital currencies.
The billionaire addressed the recent revelation by Sam Bankman-Fried, citing that he spends a lot of time lobbying the Washington DC Congress for digital currencies. He also praised the founder of FTX for promoting the crypto industry.
Featured image from Pixabay, chart from TradingView.com
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