Billionaire Ray Dalio, the founding father of the world’s largest hedge fund, Bridgewater Associates, has shared his view on cryptocurrency investing and the way forward for cash. He believes that crypto might be banned by totally different governments.
Ray Dalio on the Way forward for Cash and Crypto
Bridgewater Associates founder Ray Dalio mentioned cryptocurrency regulation and the way forward for 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 embrace 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 believe it’s attention-grabbing,” disclosing that he has “a tiny proportion” of his portfolio in crypto.
He defined: “I needed 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 totally different governments.
As well as, Dalio opined: “By way of its dimension, it has points. So I believe 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 may equally outlaw bitcoin. In September, he mentioned governments might kill bitcoin if it turns into “actually profitable.”
Dalio additional shared with Rubenstein:
I believe that we at the moment are in an period the place we’re going to have various kinds of cash.
“We’re going to query cash as a medium of change 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’re going to see around the globe … the digital model of that happen in lots of kinds … [and] You’ll see different types of that competitors … within the years forward.”
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