By | January 2, 2022

Billionaire Ray Dalio, the founding father of the world’s largest hedge fund, Bridgewater Associates, has reiterated his warning that governments may outlaw bitcoin. “In historical past, they’ve outlawed gold they usually’ve outlawed silver and so forth, they usually may outlaw bitcoin,” he careworn.

Ray Dalio Continues to Warn About Governments Outlawing Cryptocurrency

Bridgewater Associates founder Ray Dalio talked about bitcoin as he reiterated his warning that governments may outlaw the cryptocurrency on the Investor’s Podcast Community, printed Saturday. Dalio at the moment serves as Bridgewater Associates’ chairman and co-chief funding officer. His agency’s purchasers embrace endowments, governments, foundations, pensions, and sovereign wealth funds.

Dalio warned that “there are regulatory points” surrounding bitcoin. “When you could have an alternate foreign money, that’s a risk to each authorities,” he elaborated. “Each authorities desires a monopoly in their very own foreign money and significantly in case you get a greater foreign money as a result of it doesn’t get devalued.” Dalio added:

In historical past, they’ve outlawed gold they usually’ve outlawed silver and so forth, they usually may outlaw bitcoin.

Nonetheless, Dalio admitted that he has a small quantity of bitcoin in his portfolio for diversification. “I’m Mr. diversification,” he stated. The Bridgewater Associates boss additionally lately revealed that he additionally owns some ether (ETH).

Commenting on the advice by one other well-known fund supervisor, Invoice Miller, who stated that buyers ought to maintain about 1% to 2% of their portfolio in bitcoin, Dalio stated, “I believe that’s proper.”

Regardless of the concern that governments could ban bitcoin, Dalio opined:

It’s very spectacular that this idea was programmed one thing like 10, 11 years in the past and has stood the check of time.

The billionaire beforehand stated he doesn’t consider that bitcoin will exchange gold as some folks have instructed. He additionally doesn’t consider that the value of BTC may attain a really excessive quantity comparable to $1 million.

In distinction, Microstrategy CEO Michael Saylor has repeatedly stated that bitcoin will exchange gold. The professional-bitcoin government additionally expects the value of BTC to attain $6 million. As well as, fund managers are more and more opting to spend money on bitcoin over gold, seeing the cryptocurrency as a higher retailer of worth.

The Bridgewater Associates founder has warned about governments banning bitcoin for fairly a while. In September final 12 months, he stated that regulators will kill bitcoin if it turns into “actually profitable.” As well as, he stated in Might final 12 months that the success of cryptocurrencies may deliver powerful rules. For instance, he famous regulators may impose “stunning” taxes on digital foreign money.

Do you agree with Ray Dalio? Tell us within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

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