Carly Group founder predicts the future of the crypto industry
Despite the recent setbacks in the crypto industry, many are still hopeful for a better future outcome. In light of this, David Rubenstein has declared his deep support for the crypto industry. David Rubenstein is co-founder of The Carlyle Group, a global equity investment firm. Although many industries have been hit by the downturn, Rubenstein believes they will survive.
The American billionaire businessman said he is optimistic about the digital asset industry. Regardless of the crypto regulatory limitation, Rubenstein speculated that some blockchain industries would succeed in the future. He also highlighted Congress’ views on the industry and his expectations for regulation.
Rubenstein Crypto Prediction
Besides being a crypto-skeptic, the businessman is also a pro-crypto investor. The billionaire so on CNBC’s Squawk Box that he remains hopeful for the future of the crypto industry. He stated that things that usually do not conform to conventional wisdom flourish the most.
In 2022, the crypto market began to fall as investors worried about aggressive monetary policy tightening. This resulted in Bitcoin and Altcoins falling significantly from their all-time highs. Many digital assets are also losing value due to the recent selling pressure in the market.
Rubenstein claimed that he has invested in companies that serve the crypto industry. He predicted that the industry would not pack up even though it has not done well recently, due to the recent downturn.
While in the interview, Rubenstein revealed that he invested in Paxos. He is confident that blockchain companies will succeed despite the pressures in the crypto ecosystem.
The billionaire also explained that the growth drivers of the digital currency industry are the young people. He compared the growth of the crypto industry to the proliferation of personal computers in the 2000s. By the mid-2000s, personal computers existed in more than half of US households
Rubenstein also explained that young people know how to start and move trends. Older adults, on the other hand, do not start trends. Similarly, people move the trend because younger generations strive to develop and encourage new ideas.
The US Congress’s Take On Regulations
Rubenstein was responding to the many concerns that regulators could stifle innovation and restrict the market. He stated that Congress would be fair in the digital regulation. Rubenstein also believes that the digital sector has strong support in Congress. He said people are ready to spend money lobbying congresses for digital currencies.
The billionaire addressed the recent revelation by Sam Bankman-Fried, citing that he spends a lot of time lobbying Congress in Washington DC for digital currencies. He also praised the founder of FTX for promoting the crypto industry.
Featured image from Pixabay, chart from TradingView.com
