Cryptocurrencies are here to Stay, Coinbase May Acquire Osprey Funds
Governments Can’t Change Bitcoin from what Investors Want
David Rubenstein, the President of the Economic Club of Washington, thinks any effort by governments to stop Bitcoin from becoming anything other than what investors want is unrealistic.
During CNBC’s SquawkBox, he said Bitcoin has come from nothing to be a force in the market and cryptocurrencies are here to stay.
"Crypto has come from nowhere to be a force in the market … it's here to stay. Cryptocurrency is not going away," The Carlyle Group's David Rubenstein #bitcoin. "The idea that the government is going to stop cryptocurrency from being something investors want is unrealistic." pic.twitter.com/edMOpydAzp
— Squawk Box (@SquawkCNBC) May 20, 2021
His comments come at a time when there are concerns about Bitcoin’s energy efficiency and sustainability.
Critics always point at Bitcoin’s high energy requirements to justify efforts of bans or investigation.
Still, Bitcoin miners assert that the network, as valuable as it is, is powered mainly by renewables.
Per supporters’ estimates, up to 75 percent of Bitcoin’s operations depend on renewable energy sources, not fossil fuels.
Coinbase May Acquire Osprey Funds
Sources reveal that Coinbase, one of the largest cryptocurrency exchanges in the world that recently went public, plans to acquire Osprey Funds—a digital asset management firm.
Although everything remains informal at this stage, a complete takeover would show the exchange’s plans of buttressing their base by spreading wings across key crypto sectors.
Coinbase is liquid after their $1.25 billion convertible offerings. In the recent past, the exchange has acquired Skew—a data analytics firm, Tagomi, and Bison Trails.
Meanwhile, Coinbase Ventures is one of the most active crypto funds with interest in several projects in Ethereum, Polkadot, and other blockchain platforms. Coinbase Ventures’ investments include Keep, Compound, Dharma, Etherscan, UMA, and more.
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