“Cryptocurrency is here to stay”

Orlando Bravo, co-founder and managing partner of the private equity firm Thoma Bravo, expressed his firm support for the Cryptocurrency market (BTC) in an interview at CNBC’s Delivering Alpha conference on Wednesday.

The billionaire entrepreneur owns one of the largest private equity firms in the world with assets under management (AUM) of $ 83 billion as of June 30, 2021. When asked about the potential of digital assets, Bravo welcomes the arrival of the room to speak:

“How can you not love crypto? […] Cryptocurrency is just a great system. It has no friction. It’s decentralized. And young people want their own financial system. So it’s here to stay. “

Thoma Bravo joined sixty Cryptocurrency and venture capital firms including Sequoia Capital, Coinbase Ventures, VanEck and the Paul Tudor Jones family in FTX’s $ 900 million Series B financing round – the largest financing round in the history of crypto exchanges . The funding caused the value of FTX to soar to a whopping $ 18 billion, establishing the exchange as Dekacorn.

During the interview, Bravo also spoke highly of blockchain, the underlying technology of cryptocurrencies, and expressed his belief that it can improve the current system:

“The underlying blockchain technology, no matter what protocol or system you create, can be very powerful and sometimes offer better use cases than data-driven software.”

Crypto developer Elon Musk, who spoke to CNBC at the Code Conference in California on Tuesday, shares a similar opinion. Musk advocates the introduction of crypto, but warns against government inventions: “I think it’s impossible to destroy crypto, but governments can slow it down.”

When asked about his instinct for regulating the ecosystem, Musk replied in a liberal tone, reiterating, “I would say ‘do nothing’.”

Related: Bears plan to keep Bitcoin price below $ 43,000 until $ 700 million expires on Friday (Cryptocurrency)

Data from Cointelegraph Markets Pro and TradingView show that Bitcoin after China’s 19th