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Billionaire Ray Dalio Reveals He's Bitcoin Holder

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Mon, 24/05/2021 - 13:56
Billionaire Ray Dalio Reveals He's Bitcoin Holder
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Ray Dalio, one of the richest hedge fund managers in the world, has revealed that he holds some Bitcoin during a recent interview that was shown during CoinDesk's Consensus conference:

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I have some Bitcoin.

Dalio did not specify what percentage of his portfolio is in the largest cryptocurrency.

He also mentioned that he would rather own Bitcoin than government bonds: 

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The more we create savings in it, the more you might say, I'd rather have Bitcoin than the bond. Personally, I'd rather Bitcoin than a bond.  

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As reported by U.Today, Dalio claimed that Bitcoin had proven itself last month at Texas A&M's Bitcoin Conference. Back in January, he said that the largest cryptocurrency was a "hell of an invention."

The head of the world's largest hedge fund has made quite a U-turn on Bitcoin over the past year. In early 2020, he told the Davos audience that Bitcoin was neither a store of value nor a medium of exchange.

The bigger the coin, the bigger the target

Since billionaire hedge fund manager Paul Tudor Jones got into Bitcoin, he has warmed up to crypto. Nevertheless, Dalio often cautions crypto holders about an impending regulatory crackdown on crypto.

In the abovementioned interview, he warned that governments could outlaw Bitcoin to make sure that it does not replace state-controlled monetary systems.

Dalio mentioned that Bitcoin's own success is its biggest risk since governments cannot ignore it:

As it becomes a bigger deal and more of a threat...they lose control over that, and that's an existential risk.

He also once again emphasized the importance of diversification:

Diversification would be my main perspective.

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