• Billionaire investor David Rubenstein believes that Bitcoin (BTC) isn’t going anywhere due to increasing global demand.
• He believes that people have a strong desire for an alternative currency outside the purview of government.
• The SEC is currently pursuing lawsuits against major crypto exchanges Coinbase and Binance on allegations of unregistered securities.
David Rubenstein: Bitcoin Here To Stay
Billionaire investor David Rubenstein says that Bitcoin (BTC) isn’t going away now due to a wave of massive interest in the king crypto spread around the globe. In a new interview with Bloomberg, the legendary investor and co-founder of financial services titan Carlyle Group said that there is an “enormous interest” in being able to have something you can transfer without the government knowing about it and keeping it private.
Interest in Crypto Grows Worldwide
Rubenstein noted that even though US officials are divided on their opinion regarding cryptocurrencies, the rest of the world is becoming more open minded as they seek alternative options outside government control. He added that Republicans on Capitol Hill have been largely supportive of digital assets like BTC while Democrats remain skeptical.
SEC Pursuing Crypto Exchanges
The SEC currently has pending lawsuits against Coinbase and Binance, two of the largest crypto exchanges in the world, on allegations that they are selling unregistered securities. Despite these legal issues, BTC continues to trade at high values with its price hovering around $29,735 at time of writing; only showing fractional increase during last 24 hours.
High Interest Rates Drive Demand For Alternative Currency
Rubenstein believes that people are increasingly looking towards cryptocurrencies as an investment option due to current high interest rates which offer little return for investors. He emphasized once again his belief that despite any regulations or laws put forth by governments, people will still seek out ways to use digital currencies for private transactions worldwide regardless what governments may think about it or not.
Overall, Rubenstein’s view is clear when it comes to Bitcoin—he believes its here to stay as long as there is continued global demand for alternative forms of currency outside governmental purview with privacy features intact.