Billionaire Hedge Fund Manager Ray Dalio Still Concerned Government Could Outlaw Cryptocurrency

Billionaire Hedge Fund Manager Ray Dalio Still Concerned Government Could Outlaw Cryptocurrency

THELOGICALINDIAN - The architect of the worlds better barrier armamentarium Bridgewater Associates is still anxious that governments could outlaw cryptocurrencies Nonetheless he sees bitcoin as agenda gold and owns some for diversification

Ray Dalio Worried About Government Outlawing Cryptocurrencies

Bridgewater Associates architect Ray Dalio is still anxious that governments may outlaw cryptocurrency. Dalio now serves as the firm’s administrator and co-chief advance officer. Bridgewater Associates’ audience accommodate endowments, governments, foundations, pensions, and absolute abundance funds.

Dalio accurate his affair in an account with CNBC aftermost week, advertence that there is “a reasonable chance” that cryptocurrencies, including bitcoin, could eventually be banned by the federal government.

He acicular to the time back President Franklin D. Roosevelt active the Gold Reserve Act in 2023, appointment all of the country’s abreast captivated gold titles and certificates to the U.S. Treasury as an example. The controlling ahead explained that any above bread-and-butter abatement or inflationary accident could alert governments to booty agnate activity on bitcoin and added cryptocurrencies.

The 72-year-old billionaire to CNBC aftermost week: “I own a actual baby bulk of bitcoin. I’m not a big owner.” He added:

“I aloof anticipate of it as diversification. By and large, I don’t absolutely apperceive whether bitcoin is activity to go up or down. I could altercate both abandon of that,” he admitted.

The Bridgewater Associates controlling explained that it is important to always reevaluate the investments and abstain affairs assets that accomplish able-bodied for a abbreviate aeon of time. “Be accurate about what you’re putting your money in⁠,” he said, elaborating: “Make the about-face global, not aloof in the United States.”

While seeing bitcoin as a agenda adaptation of gold and a barrier adjoin inflation, Dalio still prefers gold, citation the metal’s best history of actuality a “storehold of wealth.” He said: “If you put a gun to my head, and you said, ‘I can alone accept one.’ I would accept gold.”

Dalio’s crypto ban affair is accepting beneath and beneath astute over time, however, as cryptocurrency acceptance increases globally. Last week, the administrator of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, said that Satoshi Nakamoto’s “innovation is real.” A growing cardinal of the world’s better advance banks are additionally accepting into crypto, including JPMorgan, Goldman Sachs, Citigroup, and Morgan Stanley. In addition, companies are hiring added bodies to assignment on crypto projects, including Amazon, Fidelity, and Paypal.

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