David Rubenstein, one of the co-founders and co-chairman of the Carlyle Group, a prominent private investment firm, has expressed his regret for not investing in Bitcoin (BTC) in its early stages.
Speaking in an interview with Bloomberg Television, he said he believed in the enduring potential of BTC, emphasizing that it has firmly established its presence in the financial landscape.
Meanwhile, Rubenstein’s hindsight reflects a sentiment shared by many who missed the opportunity to invest in BTC when it was in its nascent phase. With the benefit of hindsight, the billionaire investor acknowledged the significant growth and stability that the cryptocurrency has achieved over the years, reinforcing his belief that “Bitcoin is here to stay”.
However, the acknowledgment of BTC’s resilience and continued relevance aligns with the growing acceptance of cryptocurrencies in traditional financial circles. Also, Rubenstein’s words underscore the transformative impact that Bitcoin has had on the global economy, despite initial skepticism from some quarters.
Furthermore, Rubenstein noted that while some people and establishments made fun of BTC and other cryptocurrencies, some prominent firms in the financial world such as BlackRock and Fidelity have resolved to apply with the Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund (ETF). This move he noted signifies that BTC is going nowhere anytime soon.
Notably, as traditional financial institutions and major corporations increasingly explore the potential of blockchain technology and digital assets, it becomes evident that Bitcoin’s influence extends beyond being a mere speculative asset.
Bitcoin Has More Backers
Besides David Rubenstein, Bitcoin also has more prominent Wall Street veteran backing BTC. Just recently, Michael Saylor, the co-founder, and chairman of MicroStrategy expressed his confident outlook regarding the continued relevance of his software company, particularly as a major backer of BTC. Also, he said the relevance will be maintained even in the face of the potential approval for the first spot BTC ETF focused on holding cryptocurrency.
Saylor’s remarks shed light on the significance of MicroStrategy’s role as a Bitcoin holder. Saylor also confirmed that the Virginia-based company would continue adding more BTC to its balance sheet, not excluding the potential proceeds from a planned $750 million share sale. He is also optimistic that MicroStrategy would be able to offer things spot Bitcoin ETFs can’t.
