Crypto is here to stay

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Orlando Bravo, co-founder and managing partner of private equity firm Thoma Bravo, expressed his unwavering support for the cryptocurrency market in an interview at CNBCs Delivering Alpha 2021 on Wednesday, revealing he is very optimistic on his personal investment in Bitcoin (BTC).

The billionaire businessman owns one of the largest private equity firms in the world, which claims assets under management (AUM) of $ 83 billion as of June 30, 2021. Asked about the potential of digital assets, Bravo spoke with delight on the emergence of space:

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 is here to stay.

Thoma Bravo Participated in FTX’s $ 900 Million Series B Fund, the Largest in Cryptocurrency Exchange History, Alongside 60 VC and Cryptocurrency Firms, Including Sequoia Capital , Coinbase Ventures, VanEck and the Paul Tudor Jones family. The funding drove the value of FTXs to a colossal $ 18 billion, making the exchange a decacorn.

Is crypto here to stay? “Absolutely,” @OrlandoBravoTB says.

“How could you not like crypto? And on top of that, the underlying blockchain technology can be very powerful.” #LivrerAlpha pic.twitter.com/hpt2pBql11

Delivering Alpha (@DeliveringAlpha) September 29, 2021

In the interview, Bravo also praised blockchain, the underlying technology of cryptos, expressing his belief that it could improve the current system:

The underlying blockchain technology, whatever protocol or system you rely on, can be very powerful and sometimes provides better use cases than data-driven software.

Elon Musk, who spoke to CNBC at the Tuesday code conference in California, concurred with a similar sentiment. Musk argued for the adoption of cryptocurrencies but warned against the government’s invention: it is not possible, I think, to destroy crypto, but it is possible for governments to slow its down. advancement.

Asked about his instincts to regulate the ecosystem, Musk responded in a laissez-faire tone, saying, I would say, doing nothing.

Related: Bears Intend To Keep Bitcoin Price Below $ 43,000 Until Friday’s $ 700 Million Expiration

Data from Cointelegraph Markets Pro and TradingView reveals Bitcoin is experiencing moment of low investor morale following China’s 19th nationwide crypto asset ban, in addition to steep price corrections from the 53,000 level $ observed a few weeks ago.

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