Billionaire Orlando Bravo is the co-founder and managing partner at private equity firm Thoma Bravo. Furthermore, in recent speech has reveals he has investments in cryptocurrency.
He goes on to say the flagship crypto bitcoin will see value spike in the next few years. Notably, Bravo mentions that this will be due to influence from institutional adoption.
While Speaking at CNBC’s Delivering Alpha conference, the billionaire says…
“How could you not love crypto? Crypto is just a great system. It’s frictionless…”
….And young people want their own financial system. So it is here to stay.”
Also, Bravo goes on to say he sees bitcoin’s underlying blockchain technology will provide good use cases. Saying its a very powerful system, He makes comparison with the data-based system.
“sometimes provide better use cases than data-based software.”
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Furthermore, Bravo notes that blockchain can do this regardless of that protocol or system it uses.
More so, CNBC reports that Bravo’s private equity firm is recently part of a Series B funding round.
Of course, this is for the cryptocurrency exchange FTX with $18 billion value.
“Institutions are just beginning to go there, and once that happens,…”
“…I think it will increase significantly over the years. I’m very bullish.*
Multiple Reports shows several companies are moving into the crypto space such as Square, MicroStrategy, and Tesla. As these companies uses their balance sheets to purchase the asset class as an inflation hedge.
For Instance, Investment banks as Morgan Stanley starts offering BTC to some of their clients. This is why Bravo is bullish on the flagship currency.
Records shows that Morgan Stanley investment funds purchased bitcoin at $40,000 level this year. Also, since after that, the investment funds keeps on doubling down its BTC exposure.