Businessman, co-founder of leading private equity firm Carlyle Group, David Rubenstein reconsidered his views on crypto. At an interview with the Colossus podcast, Rubenstein said that he was previously skeptical about crypto as he thought nothing was underlying it. However, the businessman said it is now clear to him that many younger people don't think that anything is underlying fiat currencies such as the dollar, the euro, or others. Rubenstein added that he can't get gold for his dollars anymore.
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According to the businessman, one reason that people like crypto is it's being private, and no one can really know how much somebody owns. Another thing is that people can transfer crypto around the world.
Talking about the war in Ukraine with Russia, Rubenstein said that crypto allows people of those countries to have some holdings outside the government's control, something that is not dependent on the bank.
He mentioned that although he hadn't bought crypto, he bought companies that service the industry as he thinks "the genie is out of the bottle" and that the industry won't go away anytime soon.