David Rubenstein Says, "Government Cannot Stop Cryptocurrency"

Kavya  |  May 22, 2021

Governments wanting to stop cryptocurrency is “unrealistic at this point,” according to David Rubenstein a former Smithsonian Institution Chairman. Furthermore, he highlighted the importance of digital assets in the financial sector and expected that they would not be driven out.

Government Cannot Stop Cryptocurrency says, David Rubenstein

With the outstanding growth of the crypto market in the past few years, various analysts have expressed concern about a possible ban by world governments and the consequences for the industry.

However, David Rubenstein, Chairman of the Kennedy Center for the Performing Arts and Co-Founder of the American private equity company The Carlyle Group, argues that such a scenario is implausible.

At this point, the notion that cryptocurrency will go away or that the government will prevent cryptocurrency from being something investors want is unrealistic.”

With ongoing concerns about this week’s market crash, Rubenstein suggested people who have invested in the industry should expect similar major ups and downs from such an innovation. He also advised those who are not prepared to deal with the increased uncertainty to stay away.

While he has not personally invested in digital assets, Rubenstein said that he has allocated funds to companies in the industry.

His Words' Importance

Shortly after the interview, all of the other cryptocurrency supporters took to Twitter to express their support for his stance.

Michael Saylor, CEO of MicroStrategy, was among the first. Aside from mentioning Rubenstein's current and previous honors, the executive called his words "auspicious for Bitcoin."

 

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