“Cryptocurrencies will definitely be permanent”

The cryptocurrency industry is increasingly finding support from large institutional investors. The co-founder of Thoma Bravo, a private equity firm with $ 70 billion in assets under management, is one of these backers.

Speaking at CNBC’s Delivering Alpha conference on September 29, Orlando Bravo answered questions about the cryptocurrency market. When asked if he thinks cryptocurrencies will be permanent, Bravo said: “How can we not love cryptocurrencies? Are we not all tired of paying transaction fees, stock market commissions, and seeing the currencies of different countries completely devalued? ” She answered.

Bravo continued:

“Crypto is an excellent system. Error free. Decentralized. And young people want their own financial system. Then it will be permanent. “

The billionaire entrepreneur believes that blockchain, the technology behind cryptocurrencies, can offer much better uses than data-driven software, regardless of the protocol or system used.

When asked which cryptocurrencies he personally invested in, Bravo explained that he only invested in Bitcoin. Thinking that with the increase in the number of people and organizations using cryptocurrencies, the value will increase significantly in the coming years, the entrepreneur said that he views the future of BTC very positively.

When asked how high Bitcoin can go, Bravo answered the question as follows:

“I cannot give you a number because it is quite difficult to measure its fundamental value. But there is a limited offering, more uses, more people to use, and organizations that haven’t gotten into the game yet. This will also be positive for demand ”.

Bravo’s company, Thoma Bravo, participated in the Series B investment round of the cryptocurrency derivatives exchange FTX in July. FTX received an investment of $ 900 million in said investment round, becoming a “decacorn” company with a market capitalization of more than $ 10 billion.

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