It looks like Bitcoin is here to stay and this is the opinion of more important people in the financial space. Check out the latest reports about this below.
Bitcoin’s important prediction is out
According to billionaire David Rubenstein, Bitcoin (BTC) is gaining massive interest worldwide and is here to stay.
Rubenstein, the co-founder of Carlyle Group, believes that people are increasingly seeking private transactions and Bitcoin and other cryptocurrencies offer that.
He also believes that even though high-interest rates make gold and other investments unnecessary, cryptocurrencies are not going anywhere because of the desire for privacy and anonymity.
Rubenstein predicts that people will continue to use cryptocurrencies despite government regulations.
US officials are divided regarding crypto
Rubenstein suggests that although US officials are divided on the subject of cryptocurrency, the rest of the world is increasingly open-minded. He believes that many people are seeking an alternative currency that is not under government control.
While Democrats in Congress and regulators such as the SEC remain skeptical of Bitcoin and other cryptocurrencies, there is growing interest in these assets outside the US.
The bankruptcy of FTX was a significant setback, but many people worldwide want to trade in a currency that their government cannot track.
They desire the freedom to move their money around as they see fit, regardless of whether it is right or wrong. Bitcoin is here to stay, and Republicans on Capitol Hill have been supportive of it.
US should brace for crash landing
The US has been downgraded by the credit rating agency, from a “AAA” rating that represents the lowest expectation of default risk to “AA+” rating, which is typically given to countries with low expectations of default risk.
Fitch attributes this downgrade to the country’s expected fiscal deterioration in the coming years and the rapid increase in the government’s debt burden.
