Why This Billionaire Investor Thinks Crypto Is a Buy Right Now
In a recent CNBC interview, billionaire investor David Rubenstein, the co-founder and co-chairman of private equity firm Carlyle Group, surprised a lot of people when he made the bullish case for investing in crypto right now. The interview started off as primarily a promotion for Rubenstein's new book (How to Invest: Masters on the Craft), with Rubenstein talking about some of the lessons he's learned by interviewing some of the world's most successful investors.
And that's when things got really interesting. After noting that "The greatest fortunes are made when people go against conventional wisdom," Rubenstein suggested that investing in crypto right now might be a good example of that idea. Overall, Rubenstein made two strong arguments for investing in crypto.
Although Rubenstein was careful to point out that nobody really knows where crypto is going in the future, he did suggest that crypto prices have been "beaten down dramatically." Simply stated, crypto prices are too cheap. During the past few months, investors may have oversold the market, and now there are a lot of bargains to be found. Bitcoin (CRYPTO: BTC), for example, is down nearly 60% for the year.
Source Fool.com
