Bridgewater Associates founder Ray Dalio has revealed that he owns bitcoin regardless of considerations he has lengthy voiced about governments interfering and even outlawing cryptocurrencies. The boss of the world’s largest hedge fund mentioned “bitcoin’s greatest risk is its success.”
Ray Dalio Got Bitcoin
Ray Dalio, the founding father of the world’s largest hedge fund, Bridgewater Associates, has revealed that he owns bitcoin. In an interview on the Consensus 2021 convention, which was recorded on May 6 however launched Monday, he mentioned:
I’ve some bitcoin.
Dalio is the co-founder and chief funding officer of Bridgewater Associates, whose purchasers embrace endowments, governments, foundations, pensions, and sovereign wealth funds.
Emphasizing that bitcoin remains to be small and never a risk to governments, he famous that if it succeeds, “one of the great things, I think, as a worry is the government having the capacity to control … bitcoin, or digital currencies. They know where they are, and they know what’s going on.”
He continued: “The more we create savings in [bitcoin], the more you might say, ‘I’d rather have bitcoin than the bond’ … And then the more that happens, then it goes into bitcoin and it doesn’t go into credit, then [governments] lose control of that.” Dalio additionally mentioned, “Personally, I’d rather have bitcoin than a bond.”
As for the best threat he sees bitcoin going through, the Bridgewater Associates boss mentioned:
I feel bitcoin’s biggest threat is its success.
Dalio has come a good distance on bitcoin and cryptocurrency. In November final yr, he admitted that he could also be improper about bitcoin and needed to be taught extra concerning the cryptocurrency. By December, he had realized sufficient to say that he noticed BTC as a gold different. In January, he mentioned bitcoin was “one hell of an invention.”
However, all through all of it, he warned that the federal government may limit bitcoin investments, comparable to by imposing “shocking” taxes. He believes that there’s a “good probability” that governments will outlaw bitcoin and that bitcoin’s success would result in robust regulation.
What do you concentrate on Ray Dalio shopping for bitcoin whereas warning a few authorities ban? Let us know within the feedback part under.
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