Billionaire Orlando Bravo is very bullish on Bitcoin and asks how could you not like crypto?

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Billionaire Orlando Bravo, co-founder and managing partner of private equity firm Thoma Bravo, has revealed he is a cryptocurrency investor and believes the flagship crypto bitcoin will see its value increase over the next few years thanks to institutional adoption.

Speaking at the CNBCs Delivering Alpha conference, the billionaire said:

What’s not to love about crypto? Crypto is just a great system. Its frictionless. It’s decentralized. And young people want their own financial system. So he’s here to stay.

Bravo added that he views the bitcoin underlying blockchain technology as a very powerful system that can sometimes provide better use cases than data-driven software. In his words, the blockchain can do this regardless of the protocol or system on which it is used.

As CNBC reports, private equity firm Bravos recently participated in a Series B funding round for the FTX cryptocurrency exchange, which was valued at $ 18 billion. Brave revealing at the conference that he has personally invested in BTC because for him more and more people will start using it in the future and help it establish itself more.

Courageous added:

Institutions are just starting to move there, and once that happens I think it will increase dramatically over the years. I am very optimistic.

The price of bitcoin is trading around $ 40,000 after falling from a record low of nearly $ 64,000 seen earlier this year. The all-time high was reached after in October of last year it rose to around $ 11,000 after PayPal announced it was letting its users buy, sell and hold cryptos on its platform.

Since then, several companies have entered the cryptocurrency space, such as Square, MicroStrategy, and Tesla using their balance sheets to buy the cryptocurrency as a hedge against inflation. Investment banks like Morgan Stanley have also started offering BTC to some of their clients.

Morgan Stanley investment funds invested in bitcoin when its price fell below the $ 40,000 mark earlier this year, as documents show the Morgan Stanley Europe Opportunity Fund doubled its exposure to BTC during the price drop.

DISCLAIMER The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading crypto-assets carries a risk of financial loss.

IMAGE CREDIT Featured Image viaPexels

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