David Rubenstein, co-founder and co-chairman of the private equity company Carlyle Group, believes that the cryptocurrency sector will not disappear.
Rubenstein made his cryptocurrency remarks at a conversation with Citadel founder and CEO Ken Griffin on September 22 at the University Club of Chicago.
Rubenstein responded when asked what he thinks about cryptocurrencies: The enjoyment you get from gambling in Las Vegas is similar to the enjoyment you get from everything else. Golf may provide you with joy. If you get pleasure from it, you dedicate a particular amount of your net worth and declare, “I will lose one or two percent of my net worth in Las Vegas.”
“Therefore, if participating in gambling is something that brings you joy, you should set aside a sufficient amount of money that you can easily afford to throw away. So, this was my perspective on crypto for some time. If you find enjoyment in staring at screens all day and claiming that you’ve just earned a lot of money in crypto and other investments, then you should set aside a sufficient amount of money so that if you lose it, it won’t be the end of the world.
“While you might make the case that cryptocurrency has little to no value, I no longer believe that it will disappear as some have predicted.”
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