Billionaire investor believes crypto will surge in value

In an interview with CNBC’s Delivering Alpha 2021 conference on Wednesday, Orlando Bravo, co-founder and managing partner of private equity company Thoma Bravo, showed his consistent support for the cryptocurrency market, stating his personal investment in Bitcoin is “extremely bullish.”

“How can you not like crypto?” CNBC quoted Bravo as saying. “Crypto is a fantastic platform. It works without causing any friction. Young people, on the other hand, desire to create their own economic structure. As a result, it’s going to be around for a while,” he said.

His private equity firm recently took part in a funding round for the cryptocurrency exchange FTX Trading.

Stakes in the world’s biggest crypto

Bravo is confident decentralized coins will become mainstream in the near future. The investor claimed he had invested in the world’s largest cryptocurrency while batting for Bitcoin.

As of June 30, 2021, the billionaire businessman owns one of the world’s largest private equity businesses, with $83 billion in assets under management (AUM).

Along with 60 venture capital and crypto organizations, including Sequoia Capital, Coinbase Ventures, VanEck, and the Paul Tudor Jones family, Thoma Bravo took part in FTX’s $900 million Series B fundraising round — the largest in crypto exchange history.

FTX’s value soared to a massive $18 billion as a result of the funding, giving the crypto exchange a proud “decacorn” status.

Believing in the power of blockchain

“Blockchain’s underlying technology, regardless of the protocol or system you’re building on, may be incredibly powerful and enable better use cases than data-based software,” Bravo said in quotes by CoinTelegraph.

In response to concerns about cryptocurrency, Bravo emphasized the blockchain technology that underpins the crypto ecosystem is not only extremely powerful, but also has more applications than data-based software.

Elon Musk, the crypto industrialist, expressed a similar sentiment to CNBC at the Code Conference in California on Tuesday.

Musk pushed for cryptocurrency acceptance but warned against government intervention.

“It’s not conceivable, I believe, to kill crypto, but governments can slow down its advancement,” he said.

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/blockchain/billionaire-investor-believes-crypto-will-surge-in-value/