Orlando Bravo, co-founder and CEO of private equity firm Thoma Bravo, expressed unwavering support for the cryptocurrency market in an interview at CNBC’s Deliving Alpha 2021 conference on Wednesday, saying he was “very optimistic” about his personal investment in Bitcoin. (BTC).
The billionaire founder owns one of the world’s largest private equity firms, which boasts $ 83 billion in assets under management (AUM) as of June 30, 2021. When asked about the potential of digital assets, Bravo spoke happily about the emergence of this space:
“How can you not love cryptocurrencies? […] Crypto is just a great system. It is frictionless. It is decentralized. Young people want their own financial system. So he’s here to stay. ”
Toma Bravo participated in the $ 900 million B round of financing for FTX – the largest cryptocurrency exchange in history – with 60 venture and cryptocurrency companies, including Sequoia Capital, Coinbase Ventures, VanEck and the Paul Tudor Jones family. The financing pushed FTX’s value to 18 billion dollars, which made the exchange in dice.
In an interview, Bravo also praised the underlying blockchain technology for cryptocurrency, and expressed confidence that it can improve the existing system:
“The technology behind blockchain, no matter what protocol or system you build on, can be very powerful and at times provide better use than computer-driven software.”
Crypto dissident Elon Musk shared the same sentiment when he spoke to CNBC at the Code Conference in California on Tuesday. Musk advocated the use of cryptocurrencies, but warned against government inventions: “I think it is impossible to destroy cryptocurrencies, but governments can slow progress.”
When asked about his instincts for regulating the ecosystem, Musk responded in an informal tone, saying, “I want to say, ‘Do nothing. ”
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Data from Cointelegraph Markets Pro and TradingView show that Bitcoin is experiencing a moment of decline in investor sentiment after the 19th nationwide ban on crypto-assets in China, as well as a sharp correction in prices from the $ 53,000 level seen a few weeks ago.