Despite Bear Market, Billionaire David Rubenstein Still Support Cryptocurrency

Although David Rubenstein does not invest in cryptocurrencies directly, he has exposure to companies in the industry.

American billionaire and former White House official – David Rubenstein – reiterates his pro-crypto stance, predicting that the industry "will not disappear".

His comments come amid a market downturn that has affected many digital assets. Bitcoin now 70% reduction against its all-time high valuation as of November 11.

In a recent interview with Bloomberg, The Carlyle Group Co-Founder – David Rubenstein – said he was not always in favor of the cryptocurrency sector.

Years ago, he considered it just as something that could bring joy to people.

However, later, Rubenstein changed his stance and now considers cryptocurrencies as a field Long-term survival.

In his view, this market is especially popular among young people in their 20s and 30s who have liberal values ​​and want independence from centralized institutions:

To prove his point, Rubenstein takes the example of Russia, where many financiers have been Freeze money after President Vladimir Putin conducted a "special military operation" in Ukraine.

Cryptocurrencies can help alleviate those problems:

“The government doesn't know what you have, you can move crypto anywhere in the world, crypto won't be devalued by government inflation.

The billionaire later admitted that he had not diversified his portfolio with digital assets. However, he and several family members have invested in companies in this industry.

Again, he emphasized that bitcoin and altcoins can be very profitable monetary instrument for countries at war, such as the Russians and Ukrainians:

“Is there some cryptocurrency that can allow you to feel that you have something that is beyond the control of the government and that it does not depend on the bank being open to you?”