- David Rubenstein said that Bitcoin won’t go down the drain anytime soon. Apparently, this billionaire believes Bitcoin will grow to become an impeccable financial asset.
- To back up his claim, Rubenstein pointed at the heightened interest from big financial institutions such as Blackrock. Obviously, Blackrock’s Bitcoin ETF application is driving a consensus.
David Rubenstein, the co-founder of private investment firm The Carlyle Group, said Bitcoin will never fade out. Furthermore, he said that at this point, anyone who still thinks BTC is a joke isn’t serious. In fact, he said he wanted an opportunity to buy BTC when the price wasn’t in the thousands.
David Rubenstein Speaks on Bitcoin
Bitcoin is the world’s biggest cryptocurrency and also the first cryptocurrency. The creator of this token isn’t known to date. Instead, the creators have a pseudonymous name, Satoshi Nakamoto. Since the creation of this cryptocurrency, many continue to make fun of it. Others don’t even believe in the profitability of the token. But since its unveiling in 2009, BTC continues to touch new heights. From being less than a dollar, the token reached an all-time high of $68,789.63 in 2021.
However, many still doubt BTC, but David Rubenstein thinks otherwise. In fact, he considers those who don’t believe in Bitcoin in this age as jokers. While speaking to Bloomberg Television, Rubenstein said despite haters, BTC continues to garner interest worldwide. Apparently, the influence of BTC is becoming unbearable.
“There’s enormous interest around the world, and to be able to have something you can transfer without having the government knowing about it, and keep it private. You can say people shouldn’t do that, but that’s not going to stop people from doing it,” David Rubenstein told Bloomberg Television.
Rubenstein Points Uses Blackrock as a Case Study for Bitcoin
David Rubenstein didn’t hesitate to use some industry leaders as examples for his claim. Nevertheless, Blackrock was the number one example. According to Rubenstein, if large organizations like Blackrock should decide to invest heavily in BTC, no one should doubt the tokens’ future.
Apparently, BlackRock and some other investment firms are looking to get permission from the Securities and Exchange Commission. They want to get SEC’s approval to start trading spot BTC ETFs. The Blackrock application sent massive joy across the crypto industry when it made the news. Apparently, Blackrock is one of the biggest financial platforms. So many expect the SEC not to disapprove their requests.
But that’s just part of the process, as the SEC confirmed receiving their application. But for David Rubenstein, he says:
“So you’re saying wait a second, if the mighty BlackRock is willing to have an ETF in bitcoin, maybe bitcoin is going to be around for a while.”
Conclusion
David Rubenstein says he thinks BTC will dominate the financial ecosystem for a long time. Furthermore, he called out those who believe BTC will fail. He backed up his claim using Blackrock’s interest in the Bitcoin spot ETF.
