CEO of $ 243 billion investment fund says he’s watching Crypto Space closely, no longer skeptical

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The chief executive of a $ 243 billion sovereign wealth fund said his company plans to get into crypto and change the industry.

Khaldoon Khalifa Al Mubarak, CEO of Mubadala Investment Company, told CNBC in a new interview that he now believes crypto “is real.”

“I think this is a company that was worth $ 200 billion in crypto two years ago, and it hits $ 2.5 trillion today and continues to grow.

So I think even though a lot of people are skeptical, I don’t fall into that category. I think now I see it as real.

Mubadala is a public company based in the United Arab Emirates. The sovereign investment fund manages $ 243 billion in assets on six continents.

Al Mubarak, who is also a member of the Abu Dhabi Executive Council, says Mubadala can help change the crypto industry.

“Now I think the regulatory environment – which is not yet there in its final form and will have to be there at some point.

I think we’ll step in and help, I think, transition that asset class into something new.

From our perspective, I think we’re looking at the ecosystem around crypto, and I think we’re investing in that ecosystem.

It’s in blockchain technology, power consumption, etc.

Mubadala CEO tells CNBC he’s not a crypto-skeptic pic.twitter.com/rfT5nLjqur

– CNBC Middle East (@CNBCMiddleEast) December 13, 2021

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