Puerto Rican billionaire businessman Orlando Bravo believes cryptocurrencies will play a significant role in the future monetary system. He admitted that he is a bitcoin owner as he expects its price to rise in the following years.
"How can you not love cryptocurrencies?"
Orlando Bravo, co-founder and managing partner of Thoma Bravo, shared his optimistic prediction about the future of the digital assets industry. He labeled it a "large", "frictionless" and "decentralized" system that is "here to stay". Furthermore, it represents the ambition of young people to have their own financial network. "How could you not love cryptocurrencies," he concluded.
The 51-year-old businessman also revealed that he is passionate about bitcoin and has invested in the leading digital asset. Bravo also believes that large institutions will soon start allocating funds and this would lead to its price hike:
“For me it's pretty simple. More people will use it in the future than today and it will be more established. Institutions are just starting to go there, and once that happens, I think it will increase significantly over the years. I am very optimistic ”.
Bravo, known as the first Puerto Rican-born billionaire, also praised the blockchain technology behind cryptocurrencies. According to him, it is "very powerful and sometimes provides better use cases than data-driven software."
Other BTC supporters
With his statement, Orlando Bravo has joined the list of prominent people who are bullish on bitcoin and believe that "cryptocurrencies are here to stay".
This is the case with BlackRock's CIO, Rick Rieder. Last year he praised the technology behind the leading digital asset, adding that younger generations are more receptive to innovation in the financial world.
Furthermore, Rieder said that BTC is much more functional than gold as it is easier to send coins from one point to another using the Internet than to "pass a gold bar around".
Another bitcoin bull is Meltem Demirors, CSO of CoinShares. During the cryptocurrency crash at the end of June this year, he said that the crash in digital asset prices also has its bright side, as the market will cleanse itself of insecure investors.
“What we are seeing is a correction, a contraction, and much of what is being shaken is what we call the 'paper hands', the 'weak hands'.
Subsequently, he claimed that bitcoin "is not going anywhere".
Finally, we all now know about Elon Musk, who shared more information about his personal cryptocurrency portfolio and that of his aerospace company - SpaceX - during a discussion with Twitter's Jack Dorsey at the online B Word event.
Although Musk is a huge fan of DOGE and worried about Bitcoin's energy use, the billionaire said he owns more BTC than ETH and DOGE. Tesla CEO (Tesla shares - TSLA ticker) did not disclose the amount it invested in these assets though.