Former blockchain skeptic David Rubenstein has disclosed investments in crypto companies

Carlyle Group founder David Rubenstein on September 2, 2009. He admits that he has personally invested in several crypto companies and is optimistic about the way the industry is regulated in the United States.

Speaking to CNBC’s Squawk Box on Thursday, the billionaire said: He believes. This government regulation will be positive for the industry and the US Congress will take a collaborative approach to enhance the innovation environment in the country.

“The crypto constituency is very strong in Congress. [and] They are very republican [or] Very libertarian,” he said. “The industry can’t be soft when it comes to dealing with members of Congress.”

Rubenstein, who was previously skeptical of cryptocurrencies, reportedly changed his mind months ago. He told the Colossus podcast, “I didn’t buy cryptocurrency, but I bought companies that serviced the industry because I thought the genie was out of the bottle.”

Rubenstein reiterated his new outlook on Thursday: “Some blockchain-related investments and crypto-related things may be with us for some time. He added:

“Young people have the intelligence and energy to start trends.”

In the year In December 2020, blockchain infrastructure provider Paxos raised $142 million in Series C funding led by Declaration Partners, a Rubenstein family office investment advisor.

Rubenstein co-founded the Carlyle Group in 1987. The private equity firm has $167 billion in assets under management and more than 270 active companies in its portfolio. At the time of the press conference, his actual net worth was estimated by Forbes at $3.3 billion.

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