Ray Dalio Buys Bitcoin Despite Saying Governments May Ban Cryptocurrencies
Ray Dalio is the founder of Bridgewater Associates, “the world’s largest hedge fund . ” At a recent conference, he was asked about investing in Bitcoin, to which he responded that he had bought it. Even though he said that he believes that governments will eventually ban cryptocurrencies (due to their being outside the control of governments), he predicted that Bitcoin will rise to a price of $ 25,000 before the end of 2018.
The controversial billionaire Ray Dalio recently purchased some Bitcoin despite saying governments may ban cryptocurrencies. In a letter to his hedge fund investors on Monday, the founder of $160 billion Bridgewater Associates said that he bought Bitcoin because he believes it has utility as an asset class and he’s interested in “being able to trade” it.
Despite all the sometimes-scary headlines surrounding the world of cryptocurrency, there are some people in the financial world that see a bright future for it. Billionaire investor Ray Dalio, head of the world’s largest hedge fund, just bought Bitcoin, telling CNBC that he believes cryptocurrencies will become a “big industry”—one that’s not going away anytime soon. Dalio, who is worth $18.1 billion according to Forbes, says that he bought a small amount of Bitcoin for his family foundation, which has $150 million in assets, but that he did not personally buy any for his hedge fund.
Bridgewater Associates founder Ray Dalio said he owns bitcoin despite his longstanding concerns about government intervention or even a ban on cryptocurrencies. The head of the world’s largest hedge fund said the biggest risk of bitcoin is its success.
Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, has claimed to own bitcoins. In an interview at the Consensus 2021 conference, held on 6. May registered, but released Monday, he said: I have some Bitcoins. Dalio is co-founder and chief investment officer of Bridgewater Associates, whose clients include treasuries, governments, foundations, pensions and sovereign wealth funds. He emphasized that bitcoin is still small and poses no threat to governments, noting that if it succeeds, one of the big concerns, I think, is the government’s ability to exert control … Bitcoin, or digital currencies. They know where they are, and they know what’s going on. He continued: The more savings you create in [bitcoin], the more you can see : I’d rather have bitcoin than a bond…. And the more that happens, the more it’s bitcoins and not credits, then [governments] lose control. Dalio also said: Personally, I prefer bitcoins to bonds. As for bitcoin’s biggest risk, the director of Bridgewater Associates said: I think the biggest risk of Bitcoin is its success. Dalio has come a long way in the field of bitcoin and crypto-currencies. Last November, he admitted that he could be wrong about bitcoin and that he wanted to learn more about the crypto currency. By December, he had learned enough to say that he sees BTC as an alternative to gold. In January, he said bitcoin was a damn good invention. However, he warned that the government could limit bitcoin investments by imposing shocking taxes, for example. He considers it likely that governments will ban bitcoin and that bitcoin’s success will lead to strict regulation. What do you think about Ray Dalio buying bitcoins and warning of a government ban? Let us know your comments in the section below. Photo credit: Shutterstock, Pixabay, Wiki Commons Denial: This article is for information only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any goods, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services referred to in this article.Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has bought Bitcoin as an investment despite previously saying that “cryptocurrencies are a bubble”. In a tweet, the billionaire investor and Wall Street powerhouse said that his Bridgewater Associates had amassed a “small position in Bitcoin”, a decision that was motivated primarily by “the separation of money and state”.. Read more about ray dalio bitcoin 2021 and let us know what you think.