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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Carly Group Founder Predicts The Future Of Crypto Industry

Sarah
Sarah
2 years ago
2 mins read
Carly Group Founder Predicts The Future Of Crypto Industry

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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 profound support for the crypto industry. David Rubenstein is the co-founder of The Carlyle Group, a global equity investment company. Although many industries have been affected by the decline, Rubenstein thinks they will survive.

Related Reading: The September Curse: Why Bitcoin Price May Touch $10,000

The American billionaire businessman said he is optimistic about the digital assets industry. Regardless of the crypto regulatory constraint, Rubenstein speculated that some blockchain industries would succeed in the future. He also elucidated the views of congress about the industry and his expectation for the regulation.

The Rubenstein Crypto Prediction

Besides being a crypto skeptic, the businessman is also a pro-crypto investor. The billionaire said on CNBC’s Squawk Box that he is still hopeful for the future of the crypto industries. He stated that things that do not usually conform to conventional wisdom prosper the most.

In 2022, the crypto market started declining as investors worried about aggressive monetary policy tightening. This resulted in Bitcoin and Altcoins falling significantly from their all-time highs. Also, many digital assets are losing value due to the recent market selling pressure.

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 lately, owing to the recent decline.

While in the interview, Rubenstein revealed that he invested in Paxos. He is confident that blockchain companies will succeed despite the pressure in the crypto ecosystem.

Carly Group Founder Predicts The Future Of Crypto Industry
Crypto total market cap tanks on the daily chart | Source: TradingView.com

The billionaire also explained that the growth drivers of the digital currency industry are the youths. He compared the crypto industry’s growth to the spread of personal computers in the 2000s. By the middle of 2000, personal computers existed in more than half of the households in the U.S.

Rubenstein also explained that young people know how to start and move trends. Older adults, on the other hand, do not start trends. In the same way, people are moving the trend because younger generations strive to develop and encourage new ideas.

The U.S. Congress’ Take On Regulations

Rubenstein reacted to the many worries that regulators might hamper innovation and restrict the market. He stated that congress would be fair in the digital regulation. Rubenstein also thinks that the digital sector has strong support in congress. He said that people are ready to spend on lobbying congress for digital currencies.

Related Reading: Ethereum Nears Another Milestone Ahead Of Merge, Rally Incoming?

The billionaire addressed the recent revelation by Sam Bankman-Fried, citing that he spends much time lobbying the 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
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Sarah
Sarah

Sarah

Sarah is a journalist who continues to share her passion for writing through her writing in DeFi, FinTech, and Cybersecurity.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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