• Billionaire investor David Rubenstein believes that Bitcoin (BTC) is here to stay due to increasing global interest in private transactions.
• Rubenstein notes a divide between US and international regulators, with Republicans on Capitol Hill being more supportive of crypto than Democrats.
• The SEC has pending lawsuits against Coinbase and Binance, two of the largest crypto exchanges in the world.
Billionaire Investor David Rubenstein on BTC
David Rubenstein, co-founder of financial services titan Carlyle Group, recently spoke with Bloomberg about his views on Bitcoin (BTC). He believes that BTC isn’t going anywhere now due to a wave of massive interest in the king crypto spread around the globe.
Interest In Crypto Growing Worldwide
Rubenstein noted that people have a strong desire for an alternative currency outside the purview of governments. He highlighted that when interest rates are high like they currently are, investors don’t need gold or other assets for solid returns since 5% can be earned from treasuries, but eventually this rate will come down. He added that there is “enormous interest around the world” in having something they can transfer without government knowledge or interference and that he doesn’t think Bitcoin and other better-known cryptocurrencies are going away anytime soon.
Divide In Opinion On Crypto Among US Officials
The billionaire investor pointed out there is a divide between US officials about their view on cryptocurrency. While Democrats regulating at the SEC remain skeptical towards Bitcoin and other cryptos, people outside of America have shown growing enthusiasm for it – with many turning to digital assets such as FTX which went bankrupt recently despite its popularity.
SEC Lawsuits Against Coinbase & Binance
Rubenstein also mentioned that the SEC has pending lawsuits against Coinbase and Binance – two of the most prominent crypto exchanges worldwide – alleging them for selling unregistered securities. At time of writing, Bitcoin was trading for $29,735 – a fractional increase during the last 24 hours.
In conclusion, regardless of political opinion among US officials regarding cryptocurrency, it appears clear that global interest will continue to grow as more people seek access to privacy-focused transactions outside traditional banking systems – making BTC here to stay for years to come