Billionaire Investor Wishes He Bought Bitcoin Early On, Here’s Why
August 09 2023 - 3:00PM
NEWSBTC
As Bitcoin continues to enjoy more mass adoption, many have
regretted their decision not to get in earlier on the flagship
cryptocurrency. Co-founder of private investment firm The Carlyle
Group David Rubenstein joins this long list of individuals as he
wishes he had bought BTC early on. Bitcoin Is Here To Stay
Speaking on Bloomberg Television on August 8, Rubenstein said he
wished he had bought Bitcoin when one BTC was worth $100. The
statement stems from the fact that the billionaire believes BTC is
here to stay, following “enormous interest” in the
cryptocurrency. Related Reading: ARK Invest’s CEO Says
SEC Could Approve Multiple Spot Bitcoin ETFs Simultaneously He
explained that Bitcoin’s decentralization is key to this interest
as people want a form of money that governments can’t control.
According to him: There’s enormous interest around the world, and
to be able to have something you can transfer without having the
government knowing about it, and keep it private. You can say
people shouldn’t do that, but that’s not going to stop people from
doing it. BTC price rocks up to $29,873 | Source: BTCUSD on
Tradingview.com BlackRock Is Key To All Of It Rubenstein also noted
that people who once mocked BTC and other cryptocurrencies might
begin to have second thoughts following BlackRock’s application for
a Spot Bitcoin exchange-traded fund (ETF). “What’s happened is
people made fun of bitcoin and other cryptocurrencies, but now the
establishment, Larry Fink at BlackRock, is now saying they’re going
to have an ETF if approved by the government in bitcoin,”
Rubenstein told Bloomberg. “So you’re saying wait a second, the
mighty BlackRock is willing to have an ETF in bitcoin, maybe
bitcoin is going to be around for a while.” The billionaire
investor’s sentiments echo that of Galaxy Digital CEO Mike
Novogratz, who mentioned, during an interview on Bloomberg TV with
David Rubenstein, that BlackRock’s CEO Larry Fink’s change of heart
was the “most important thing that happened this year in Bitcoin.”
“He [Larry Fink] got ‘orange-pilled. Larry was a nonbeliever. Now
he says, ‘Hey, this is going to be a global currency.’ People
around the world all trust it,” he said. Larry, who had once
referred to BTC as “an index of money laundering,” said in a July 5
interview with Fox Business that Bitcoin could revolutionize the
financial industry as it could be used as a hedge against inflation
instead of traditional gold. Related Reading: Can PayPal’s
PYUSD Be Frozen In Your Wallet Like Tether’s USDT? There is no
denying the influence that BlackRock and its CEO Larry Fink could
have on BTC adoption, especially among institutional investors.
BlackRock is currently the largest asset manager with over $9.1
trillion in assets under management (AuM). With such a large
clientele base, the market could see more individual investors,
companies, governments, and foundations invest in Bitcoin through
BlackRock (when their spot Bitcoin ETF gets approved by the
SEC). Meanwhile, Larry Fink is a prominent figure on Wall
Street and one who boasts tremendous influence in the financial
world, and he will likely carry this influence into crypto.
Featured image from iStock, chart from Tradingview.com
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