• Billionaire David Rubenstein says Bitcoin (BTC) has gained substantial interest and is here to stay.
• The king crypto is becoming more popular around the world due to its private transactions.
• Republicans on Capitol Hill have been supportive of Bitcoin, while Democrats and the SEC remain skeptical.
Billionaire David Rubenstein’s Take On Bitcoin
Billionaire investor and co-founder of Carlyle Group, David Rubenstein, recently shared his thoughts on Bitcoin (BTC). In an interview with Bloomberg, he expressed that despite high interest rates, people are increasingly looking towards cryptocurrencies as a way to store their money privately outside of government control. He believes that the demand for BTC and other prominent crypto assets will only continue to grow worldwide.
Interest Rates Impact Crypto Demand
Rubenstein pointed out that with current high interests rates, people don’t necessarily need gold or other investments to get a good return. However, he believes that when those rates start coming down in the future people will still seek out cryptocurrency as an alternative form of currency outside of government regulation.
Divided Opinion Among US Officials
Although there appears to be a divide among US officials regarding their opinion on cryptocurrencies in general – Democrats and the SEC remaining skeptical – most countries around the world are becoming more open minded towards them. People are interested in having something they can transfer without their government knowing about it or keeping track of it.
SEC Suing Crypto Exchanges
The Securities and Exchange Commission (SEC) currently has pending lawsuits against two major crypto exchanges – Coinbase and Binance – alleging that they were selling unregistered securities. Despite this setback, investors like Rubenstein believe that Bitcoin is here to stay due to growing global demand for privacy focused digital currencies.
Bitcoin Price Action
At time of writing, Bitcoin is trading at $29,735 after a fractional increase during the last 24 hours.