The American billionaire investor David Rubenstein, who has declared his support for bitcoin over the years, said he wishes he had purchased the asset when it was worth $100.
It sounds like most people would also like to travel through time and enter the ecosystem at that level, considering that BTC’s current price is nearly $30,000. However, this is not the case with Warren Buffett, who said last year he wouldn’t buy “all of the bitcoin in the world for $25.”
Who Wouldn’t Like to Make 300X on Their Investment?
David Rubenstein – an American lawyer, philanthropist, and former White House official – wished in a recent interview for Bloomberg that he had invested in bitcoin when it was trading at a mere $100:
“I wish I had bought it at $100 when Mike Novogratz started buying it. It’s now $29,000, so he’s made a lot of money, and a lot of people who bought it at $100 or less are feeling pretty good.”
The billionaire has previously admitted that he had not diversified his portfolio with digital assets. However, he and some of his family members have distributed funds to firms that serve the industry.
Simple math shows that buying 10 BTC in 2013 (when the asset first hit the $100 milestone) would currently equal approximately $300,000. It is interesting to note that bitcoin’s impressive price increase in the past decade considerably surpasses that of gold or popular indexes.
One ounce of the precious metal was worth around $1,500 in 2013, whereas now it is $1,950, representing a 30% jump. Bitcoin, on the other hand, has soared by 30,000% in that time frame.
Considering those facts, it sounds like everyone would like to make such substantial profits. One of crypto’s biggest critics – Warren Buffett – is not among them. The Oracle of Omaha, who has previously called BTC “rat poison,” said in 2022 that he wouldn’t have purchased all the bitcoin even for $25.
BTC is Here to Stay
Rubenstein also argued that the leading digital asset is not “going away” since some consumers like the idea of holding a digital currency that the authorities can not control.
“A lot of people around the world want to trade in a currency that their government can’t know what they have, and they want to be able to move it around rightly or wrongly, and so I don’t think that bitcoin is going away.”
He outlined that the current government of the USA is predominantly against cryptocurrency but remarked that there is vast interest outside America.
Subsequently, the billionaire pointed out BlackRock and its attempt to launch a spot BTC ETF in America. In his view, the development has changed people’s perspective, especially those who “make fun of bitcoin.”
“People make fun of bitcoin and other cryptocurrencies, but now the establishment of Larry Fink at BlackRock is now saying they are going to have an ETF (if approved by the government) in bitcoin, so you’re saying “wait a second, if the might BlackRock is willing to have an ETF in bitcoin, maybe bitcoin is going to be around for a while.”