Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has shared his view on cryptocurrency investing and the longer term of cash. He believes that crypto will likely be banned by completely different governments.
Ray Dalio on the Future of Cash and Crypto
Bridgewater Associates founder Ray Dalio mentioned cryptocurrency regulation and the longer term of cash in an interview with David Rubenstein Thursday.
Dalio at the moment serves because the Bridgewater Associates chairman and cochief funding officer. His agency’s purchasers embody endowments, governments, foundations, pensions, and sovereign wealth funds.
He was requested, “How do you foresee crypto impacting the world order?” The Bridgewater chairman replied, “I feel it’s fascinating,” disclosing that he has “a tiny proportion” of his portfolio in crypto.
He defined: “I wished to diversify nevertheless it’s a really weak incident as a result of they’ll observe who is working on it. It may be tracked.” He added:
It’ll be outlawed, in all probability by completely different governments.
As well as, Dalio opined: “In phrases of its measurement, it has points. So I feel an excessive amount of consideration is spent on crypto.”
This was not the primary time that the Bridgewater boss warned about governments outlawing cryptocurrencies. In January, he defined that the federal government outlawed gold and silver prior to now, so they might equally outlaw bitcoin. In September, he mentioned governments could kill bitcoin if it turns into “actually profitable.”
Dalio additional shared with Rubenstein:
I feel that we are actually in an period the place we’re going to have differing types of cash.
“We’re going to query cash as a medium of alternate nevertheless it’s additionally storehold of wealth,” the billionaire famous. “And we’re going to be questioning what are the appropriate storeholds of wealth in worth.”
He concluded: “And, you’ll see around the globe … the digital model of that happen in lots of varieties … [and] You’ll see different varieties of that competitors … within the years forward.”
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