David Rubenstein, co-founder of private-equity firm Carlyle Group, said he has crypto-specific investments. Initially a crypto-skeptic, the billionaire revealed that he has taken personal positions in several crypto-focused companies.
Mr. Rubenstein was interviewed on CNBC’s Squawk Pod on 2 September.
He sounded optimistic about the state and progression of crypto regulations in the US. Rubenstein’s change in stance shows that people are steadily putting more faith in crypto, underlining the fact that crypto isn’t the bubble people thought it would be.
What was the interview about?
The interview discussed Rubenstein’s new book, How to Invest: Masters on the Craft. During the interaction, Rubenstein talked about the market’s reaction to aggressive rate hikes, the energy crisis across the European continent, and some of his investment bets. As for the bets, he mentioned fintech, healthcare, and blockchain (crypto) as his preferences.
Here is what Squawk Box tweeted:
Today's #SquawkPod: @DM_Rubenstein discusses his new book featuring his own interviews with the world’s best investors. He offers his best bets at this point in the cycle: health care, fintech, and #crypto.
— Squawk Box (@SquawkCNBC) September 1, 2022
The billionaire added that a handful of blockchain-specific investments and crypto-centric products are here to stay.
While Rubenstein has made fresh revelations in the interview, we can now connect the dots and see that he was always been close to investing in crypto. In fact, his tryst with crypto dates back to December 2020 when Paxos— a blockchain infrastructure service provider— raised $142 million in a Series C funding. Leading the funding round was Declaration Partners, a firm that also provided investment advice to Rubenstein’s office.
Optimistic about crypto space
Rubenstein said crypto-related companies have intrigued him the most, not just the project tokens. Also, he continues to eye the space despite the market correcting a lot in 2022. He said his optimism stems from the fact that the younger generation is coming into the space.
On another note, Rubenstein was effusive in his praise for FTX founder Sam Bankman-Fried for backing the crypto space and injecting liquidity post the CeFi meltdown.