Former White House official David Rubenstein said that cryptocurrencies will not disappear anytime soon.
Billionaire businessman and former government official David Rubenstein reiterated his support for the crypto industry, arguing that the “gin out of the bottle” industry will continue to move forward.
Rubenstein admitted that he was skeptical of crypto in the past because he thought there was nothing underlying crypto.
Rubenstein later began to see the benefits of Bitcoin and altcoins. He believes that digital assets can be a much better solution than fiat currencies due to decentralization, especially during times of increased inflation and financial crisis.
“I think that’s why people like cryptos to be private. You never really know how much someone has. The ability to transfer anywhere in the world is very popular”
The billionaire also thinks that cryptocurrencies can be extremely valuable to people in Ukraine and Russia. Because both countries are going through a serious financial crisis caused by military conflicts:
“Having some cryptocurrencies makes you feel better that you can own something that is beyond the government’s control and therefore feel better. This is not a case of a bank opening its doors to you”
Rubenstein said that despite praising the crypto industry, he did not dedicate a portion of his wealth to crypto. But he has invested in companies that are part of the industry:
“I invested in companies that serve the industry because the gin is out of the bottle and I don’t think the industry will go away anytime soon”
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