377
164 shares, 377 points

Orlando Bravo, co-founder and managing partner of private equity firm Thoma Bravo, said he is a Bitcoin investor and believes the cryptocurrency will increase in value over the years with institutional adoption.

Orlando Bravo: How can you not love crypto?

Bravo asked that question at CNBC’s Delivering Alpha conference on Wednesday. His answer was that Bitcoin (BTC) would be permanent and he referred to traditional financial instruments:

Crypto is just a great system. Uninterrupted. Decentralized. And young people want their own financial system. So it’s here to be permanent.

Orlando Bravo’s other statements referring to Blockchain technology were as follows:

Regardless of what protocol or what system you’re building on, underlying Blockchain technology can be very powerful and can sometimes provide better use cases than data-driven software.

CEO says he is optimistic about Bitcoin

The private equity firm recently participated in a Series B fundraiser for the $18 billion cryptocurrency exchange FTX Trag. Bravo announced that he has personally invested in Bitcoin as well:

Pretty simple for me. In the future, more people will use it than today and it will become more established. Institutions are just starting to get there, and when that happens, I think it will increase significantly over the years. I am very optimistic.

https://twitter. com/DeliveringAlpha/status/1443236551274737670

Institutional investor carried the price of Bitcoin to the top!

Bitcoin price hit record highs earlier this year as more institutions embrace cryptocurrencies. Big financial companies like PayPal and Fidelity have used their own balance sheets to buy Bitcoin, while big financial companies like Square and MicroStrategy have used their own balance sheets to buy into cryptocurrencies. Morgan Stanley was among the first banks to offer Bitcoin funds to their clients, and Goldman Sachs made its own announcement soon after.

Still, this year has been a roller coaster ride for Bitcoin due to pressure from the Securities and Exchange Commission as well as pressure in China. The People’s Bank of China said last week that all crypto-related activities are illegal. SEC Chairman Gary Gensler has pledged to create a set of rules to regulate the volatile cryptocurrency markets.

Bitcoin was last traded around $41,684 on Wednesday after climbing above the ATH level of $63,000 in April. It is currently trying to stay above $43,000. Bravo said it sees a “great opportunity” in the cybersecurity company’s series and that the valuation in the software industry is “reasonable”. Other statements by Thoma Bravo that touched on cyber security were as follows:

It’s not just the threat of hacking. In many cases, it is cybersecurity that is preventing corporate customers from transitioning to faster digital transformation.


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