Billionaire investor bullish on Bitcoin: ‘Crypto is here to stay’

Billionaire investor bullish on Bitcoin: ‘Crypto is here to stay’

Orlando Bravo, a co-founder of one of the world’s largest equity firms, talked about his views on Bitcoin and blockchain technology.

Billionaire investor bullish on Bitcoin: ‘Crypto is here to stay’

Orlando Bravo, co-founder and managing partner of private equity firm Thoma Bravo, expressed his unwavering endorsement of the cryptocurrency market in an interview at CNBC’s Delivering Alpha 2021 conference on Wednesday, revealing that he is “very bullish” on his personal investment in Bitcoin (BTC).

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

Thoma Bravo participated in FTX’s $900-million Series B funding round — the largest in crypto exchange history — alongside 60 venture capital and crypto firms, including Sequoia Capital, Coinbase Ventures, VanEck and the Paul Tudor Jones family. The funding resulted in FTX’s value soaring to a colossal $18 billion, establishing the exchange as a decacorn.

Is crypto here to stay? “Absolutely,” says @OrlandoBravoTB. “How could you not love crypto? And on top of that, the underlying technology of blockchain can be very powerful.” #DeliveringAlpha

In the interview, Bravo also spoke highly of blockchain, crypto’s underlying technology, conveying his belief that it could improve the current system:

Subscribing to a similar sentiment is crypto maverick Elon Musk, who spoke to CNBC at Tuesday’s Code Conference in California. Musk advocated for the adoption of cryptocurrencies but warned on government invention: “It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement.”

When questioned on his instincts for regulating the ecosystem, Musk responded in a laissez-faire tone, claiming, “I would say, ‘Do nothing.’”

Related: Bears intend to pin Bitcoin price below $43K until Friday’s $700M expiry passes

Data from Cointelegraph Markets Pro and TradingView reveals that Bitcoin is experiencing a moment of low investor morale in the wake of China’s 19th country-wide ban of the crypto asset in addition to sharp price corrections from the $53,000 level witnessed a few weeks ago.

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