David Rubenstein Regrets Not Buying Bitcoin at $100, Contrasting With Warren Buffett’s Skepticism

American billionaire investor David Rubenstein, who has publicly expressed support for Bitcoin over the years, stated that he wishes he had purchased the asset when it was valued at $100.

It is a sentiment shared by many, who would likely travel back in time to enter the ecosystem at that price point, given that BTC’s current price is nearly $30,000. However, this is not the case for Warren Buffett, who stated last year that he would not buy “all of the bitcoin in the world for $25.”

Who Wouldn’t Like to Make a 300x Return on Investment?

David Rubenstein – an American lawyer, philanthropist, and former White House official – expressed regret in a recent Bloomberg interview that he had not invested in Bitcoin when it was trading at just $100:

“I wish I had bought it at $100 when Mike Novogratz started buying it. It’s now $29,000, so he’s made a lot of money, and a lot of people who bought it at $100 or less are feeling pretty good.”

The billionaire has previously admitted that he had not diversified his portfolio with digital assets. However, he and some of his family members have allocated funds to firms serving the industry.

Simple mathematics illustrates that buying 10 BTC in 2013 (when the asset first reached the $100 milestone) would currently be worth approximately $300,000. Notably, Bitcoin’s impressive price appreciation over the past decade significantly outperforms both gold and popular stock indexes.

One ounce of gold was worth around $1,500 in 2013, whereas it is now $1,950, representing a 30% increase. Bitcoin, by contrast, has surged by 30,000% during that same period.

Given these figures, it seems everyone would welcome such substantial profits. Yet, one of crypto’s most prominent critics, Warren Buffett, is not among them. The “Oracle of Omaha,” who has previously referred to BTC as “rat poison,” stated in 2022 that he would not have purchased all the bitcoin even for $25.

BTC Is Here to Stay

Rubenstein also argued that the leading digital asset is not “going away” because many consumers appreciate the concept of holding a digital currency that authorities cannot easily control.

“A lot of people around the world want to trade in a currency that their government can’t know what they have, and they want to be able to move it around rightly or wrongly, and so I don’t think that bitcoin is going away.”

He noted that the current U.S. government is predominantly skeptical of cryptocurrency but highlighted that there is significant interest outside of America.

Rubenstein also pointed out that many Republicans support BTC, citing examples such as presidential candidate Ron DeSantis (Governor of Florida) and Francis Suarez (Mayor of Miami).

Subsequently, the billionaire highlighted BlackRock and its attempt to launch a spot BTC ETF in the United States. In his view, this development has shifted public perception, particularly among those who “make fun of bitcoin.”

“People make fun of bitcoin and other cryptocurrencies, but now the establishment of Larry Fink at BlackRock is now saying they are going to have an ETF (if approved by the government) in bitcoin, so you’re saying ‘wait a second, if the mighty BlackRock is willing to have an ETF in bitcoin, maybe bitcoin is going to be around for a while.’”

Sponsored Content:
Binance Special Offer: Register using this link to receive $100 free and a 10% discount on fees for the first month of Binance Futures (terms apply).
PrimeXBT Special Offer: Register using this link and enter code CRYPTOPOTATO50 to receive up to $7,000 on your deposits.