Crypto, just like gold, is here to stay, says David Rubenstein

David Rubenstein, the co-founder of Carlyle Group, has said that it is not realistic to think that the government will stop cryptocurrency from being something that investors want. According to him, cryptocurrency is not going anywhere, and it is here to stay. It has everything to offer that the market wants.

David Rubenstein Optimist About Cryptocurrency

The co-founder and co-chairman of Carlyle Group, David Rubenstein, is an optimist about the current situation of cryptocurrency. In an interview with CBC last week, he talked about the future of Bitcoin and cryptocurrency. Previously, he was the co-CEO of Carlyle Group which is an asset management and financial service corporation. According to the PEI 300 index in 2015, Carlyle Group is the world’s largest private equity firm by capital raised during the last five years. Mr Rubenstein said that crypto has emerged as the leading force in the market from nowhere. It is an adequate substitute for Gold. Its existence is also just like gold which can never go away.

Moreover, he said that the people who think that the government will stop cryptocurrency from being what investors want are not thinking realistically. Although cryptocurrency has its ups and downs, this is what every new market is like. It is highly unlikely that anything like cryptocurrency will disappear from the market. There is much more to this and much more we still have to see. Cryptocurrency is here because people want something different from traditional paper currency, and digital currency is a superb alternative to that. The market will never want it to go. As an investor in cryptocurrency, you should prepare yourself for massive fluctuation in value. If you are not ready to face such ups and downs, cryptocurrency is not for you.

Other People Views on Rubenstein’s Statement

Many other people in the cryptocurrency community are supporting this statement from David Rubenstein. The CEO of Nasdaq listed company Microstrategy, Michael Saylor, has said that the statement from David Rubenstein matters a lot as he is chairman of Kennedy Center of Performing Arts, ex-chairman of Smithsonian Institution, chairman of the Council of Foreign Relations, and president of the Economic Club of Washington.

Bitcoin and few other cryptocurrencies are facing a decline in value for the past few days now. This decline in the value is a point of concern for many investors. Some investors are pulling out of cryptocurrency investment. But such statements from huge market names are encouraging people to have some patience and stick to their investment. Even Elon Musk, whose company stopped Bitcoin payment for its electric cars, has revealed that he is not selling his bitcoin holdings soon. Many experts and analysts see this market drop of cryptocurrency, especially Bitcoin, as an opportunity to buy cryptocurrency more. They predicted that bitcoin would rise to new heights within the next few months. David Rubenstein’s statement is also proof that market ups and downs are part of any investment business. Still, the thoughts such as the currency will disappear from the market are unrealistic.