{"id":63601,"date":"2022-04-12T09:04:37","date_gmt":"2022-04-12T09:04:37","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=63601"},"modified":"2022-04-12T09:04:37","modified_gmt":"2022-04-12T09:04:37","slug":"billionaire-david-rubenstein-on-why-he-changed-his-mind-about-crypto-says-i-was-skeptical-in-the-beginning","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=63601","title":{"rendered":"Billionaire David Rubenstein on Why He Changed His Mind About Crypto \u2014 Says \u2018I Was Skeptical in the Beginning\u2019"},"content":{"rendered":"

\"Billionaire<\/p>\n

David Rubenstein, the founder of Carlyle Group, one of the largest investment firms managing over $300 billion, says<\/strong> he was skeptical of crypto but now believes that \u201cthe genie is out of the bottle\u201d and the crypto industry is not \u201cgoing to go away anytime soon.\u201d
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<\/strong>\n<\/p>\n

David Rubenstein on Crypto<\/h2>\n

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\nDavid Rubenstein, co-founder of Carlyle Group, one of the largest private equity firms in the world, has shared why he changed his mind about crypto in a recent interview by Colossus<\/a>.<\/p>\n

Rubenstein co-founded the Carlyle Group in 1987. Since then, the company has grown into a firm managing $301 billion from 26 offices around the world. Among many credentials, Rubenstein is chairman of the Council on Foreign Relations, a trustee of the Brookings Institution and the World Economic Forum; and a recipient of the Carnegie Medal of Philanthropy.<\/p>\n

\u201cI was skeptical of crypto in the beginning because I figured there\u2019s nothing underlying this,\u201d he began, elaborating:\n<\/p>\n

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But it\u2019s clear to me now that many younger people don\u2019t think that there\u2019s much underlying the dollar or the euro or other currencies.<\/p>\n<\/blockquote>\n

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\n\u201cThey think, \u2018I really can\u2019t get gold for my dollar anymore,’\u201d he added.<\/p>\n

\u201cSo maybe the government\u2019s promise to make it valuable isn\u2019t there when you have so much money you\u2019re borrowing and you\u2019re inflating your way out of the value of the currency,\u201d he continued.<\/p>\n

Rubenstein added: \u201cSo I think many people like the fact that it\u2019s private. You can\u2019t really know how much somebody owns. They like to be able to transfer [it] around the world.\u201d<\/p>\n

Furthermore, Carlyle Group co-founder mentioned the Russia-Ukraine war. He pointed out the benefits of having crypto \u201cIf you\u2019re in Ukraine or you\u2019re in Russia and you want to have some assets and your country has got lots of challenges.\u201d In such circumstances, he opined:\n<\/p>\n

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Having some cryptocurrency probably enables you to feel better that you can have something that\u2019s outside of the government\u2019s control and it\u2019s not dependent on the bank opening up its doors to you.<\/p>\n<\/blockquote>\n

\nRubenstein further noted that another factor drawing people to crypto is investors seeing other people making money in the sector. He said, \u201cthey tend to go where people have made money.\u201d<\/p>\n

As for his own investments, he admitted: \u201cI have not bought cryptocurrencies, but I have bought companies that service the industry because I think the genie is out of the bottle.\u201d Rubenstein concluded:\n<\/p>\n

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I don\u2019t think the industry\u2019s going to go away anytime soon.<\/p>\n<\/blockquote>\n

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What do you think about David Rubenstein\u2019s comments? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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David Rubenstein, the founder of Carlyle Group, one of the largest investment firms managing over $300 billion, says he was skeptical of crypto but now believes that \u201cthe genie is out of the bottle\u201d and the crypto industry is not \u201cgoing to go away anytime soon.\u201d David Rubenstein on Crypto David Rubenstein, co-founder of Carlyle […]<\/p>\n","protected":false},"author":2,"featured_media":63602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-63601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/63601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63601"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/63601\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/63602"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}