Billionaire Orlando Bravo says cryptocurrencies are here to stay.
The billionaire batted for Bitcoin, revealing he's an investor himself
Orlando Bravo, the co-founder of American private equity firm Thoma Bravo has batted in favor of cryptocurrencies, predicting a glowing future for digital assets. Bravo revealed his crypto-related projections at CNBC's Delivering Alpha conference held earlier this week. His private equity company recently participated in fundraiser for crypto exchange FTX Trading. Bravo firmly believes that these decentralised cryptocurrencies will witness widespread adoption in the near future. While batting for Bitcoin, the investor revealed that he himself has invested in the world's largest cryptocurrency.
“How could you not love crypto? Crypto is just a great system. It's frictionless. It's decentralized. And young people want their own financial system. So, it is here to stay,” Bravo said in his address.
Addressing concerns around crypto, Bravo highlighted that the technology of blockchain, that supports the crypto ecosystem, is not only super powerful, but also comes with better use cases than data-based software.
“For me, it's pretty simple. More people are going to use in the future than today, and it's going to be more established. Institutions are just beginning to go there, and once that happens, I think it will increase significantly over the years. I'm very bullish,” Bravo said.
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 pic.twitter.com/hpt2pBql11
Crypto-supporting voices have been getting louder in recent times.
For instance, noted venture capitalist Chamath Palihapitiya recently said Bitcoin is the modern-day replacement of gold.
Earlier this week, Tesla CEO Elon Musk also said in an interview that cryptocurrencies are indestructible.
The negative environmental impact of crypto mining however, has emerged as a matter of concerns among several countries around the world.
On September 24, China imposed a blanket ban on crypto activities, making the deed a legally punishable offense.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
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