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Ray Dalio Clarifies His Stance on Bitcoin

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Sun, 01/02/2022 - 12:45
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Alex Dovbnya
Bridgewater Associates boss Ray Dalio is neither bearish nor overly bullish on Bitcoin
Ray Dalio Clarifies His Stance on Bitcoin
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During a recent podcast appearance, Bridgewater Associates founder Ray Dalio has clarified that he’s neither a raging bull nor a bear when it comes to Bitcoin.

The American billionaire changed his stance on the world’s largest cryptocurrency last year, revealing that he holds some of it back in May.

The investor agrees with fellow billionaire Bill Miller that one should allocate from 1-2% of his or her net worth into Bitcoin.     

Dalio, who remains a huge proponent of diversification, said that competing in the markets is more difficult than competing at the Olympics:

There are more people trying to do this and putting more resources behind it.

Many members of the crypto community saw Dalio’s new book about the changing world order as a 550-page ad for Bitcoin.

Both zealots and “thoughtful” people are part of the Bitcoin community, Dalio says.

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Ray Dalio Says Regulators Will Kill Bitcoin

Key risks faced by Bitcoin

He reiterated that he’s impressed by the fact that Bitcoin has managed to stand the test of time without breaking down.       

However, he warned about some risks faced by Bitcoin. First of all, he believes that a new alternative might emerge since everything eventually gets old, which is just the nature of evolution.   

He predicts that more money could flow into non-fungible tokens and other coins for diversification purposes. As reported by U.Today, Dalio is yet to dabble in NFTs, but the latest crypto frenzy has made him curious.     

The head of the world’s largest hedge fund has once again warned that governments could outlaw Bitcoin just like they outlawed gold and silver back in the day:  

When you have an alternative currency, that’s a threat to every government. Every government wants a monopoly in their own currency.    

Finally, he also mentioned the proliferation of ransomware and malware as yet another problem that is plaguing Bitcoin.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.