Billionaire David Rubenstein, who was once skeptical of crypto, shared his views on the crypto industry in an interview by Colossus. Rubenstein, the founder of one of the largest investment firms Carlyle Group, which is managing over $300 billion, said that he has changed his mind and now believes that “the genie is out of the bottle” and the crypto won’t go away anytime soon.

Rubenstein mentioned that his skepticism at the beginning was based on his views that there’s nothing underlying crypto, but in the view of many younger people now there is not much underlying the dollar or the euro.

He believes many people like the fact that it’s private and that you are able to transfer it around the world, and not be dependent on any government or financial institution.