Sign Up on MEXCBillionaire David Rubenstein Predicts Future Of Crypto Regulation
Billionaire businessman David Rubenstein said he is bullish on the crypto assets industry. Despite regulatory pressures, he predicted that some of the blockchain companies would be successful in future. He also shed some light on the Congress’ view of crypto and its position to regulate the industry. Although some companies have been hurt by the recent decline in prices, the industry is here to stay, he explained.
The businessman was earlier a sceptic of crypto but is now supporting the emerging industry.
David Rubenstein Crypto Prediction
The billionaire investor said things that go against conventional wisdom would success the most. It is the generation of young people that are driving the crypto industry growth, he added. Rubenstein drew a comparison with the personal computers boom in 2000s to the crypto industry.
“I am bullish on crypto in the sense that greatest fortunes are made when people go against conventional wisdom. But right now crypto is beaten down. But I have invested personally in the companies that surround the industry, not just crypto itself. But companies at that serve the industry.”
Asked if he means companies like Coinbase, Rubenstein said he means those type of companies. “They have not actually done that well lately. They have been hurt by crypto decline lately. But the industry is not going away.”
Congress – Its Regulatory View On Crypto
Rubenstein said he thinks members of the Congress are not going to regulate the industry unduly. Crypto is very strong in Congress, they tend to be republican, libertarian and ready to spend on lobbying, he stated. He also pointed to Sam Bankman-Fried’s recent revelation that he spends a lot of time lobbying Congress in Washington DC for crypto. Asked about the FTX CEO’s investments in crypto companies when the industry was going through a crisis, Rubenstein said he did a pretty good job.
“Young people tend to have the intelligence to get trends started. It’s not people in their 70s who say ‘Let’s go into personal computers.’ It’s people in their 20s who make trends happen and right now it’s the crypto people who are moving this forward.”
When asked about his own investments in crypto, he said he invested in Paxos. Despite some of the pressures that come with crypto ecosystem, he added that some of the blockchain companies would succeed.
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- First U.S. Spot Dogecoin and XRP ETFs Launch as REX-Osprey Debuts DOJE and XRPR
- Analyst Calls $6 XRP Target for November Amid Ripple CEO’s White House Stockpile Hint
- Ethereum Faces Selloff Risks As Whales’ Unrealized Profit Hits 2021 Highs
- Expert Predicts 138% Shiba Inu Rally as SHIB Futures Listing Opens Spot ETF Path
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
