Bitcoin isn't going anywhere, says billionaire investor David Rubenstein

Companies • August 8, 2023, 6:12PM EDT

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Quick Take

David Rubenstein, the co-founder of private investment firm The Carlyle Group, told Bloomberg Television on Tuesday that he wished he would have bought in on bitcoin early on.

Billionaire investor David Rubenstein said bitcoin isn’t going away, citing “enormous interest” in the longstanding cryptocurrency.

“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,” Rubenstein said on Tuesday on Bloomberg Television.

Rubenstein, who is the co-founder of private investment firm The Carlyle Group, also said he wished he would have bought in on bitcoin early on.

Bitcoin not just a trend

While some people once made fun of bitcoin and other cryptocurrencies, Rubenstein noted that big names such as BlackRock and Fidelity have now thrown in their hats to apply with the Securities and Exchange Commission for a spot bitcoin exchange-traded fund.

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“So you’re saying wait a second, if the mighty BlackRock is willing to have an ETF in bitcoin, maybe bitcoin is going to be around for a while,” Rubenstein said.

About Author

Sarah is a reporter at The Block covering policy, regulation and legal happenings. Before, Sarah was a reporter with CQ Legal writing about securities regulation, which is where she first started reporting on crypto. Sarah has also written for The Bond Buyer and American Banker, among other finance-related publications. She graduated from the University of Missouri and earned a degree in print and digital journalism. Sarah is based in Washington D.C., and is an avid coffee lover. You can follow her on Twitter @ForTheWynn.