- Founder of Bridgewater Associates, Ray Dalio referred to Bitcoin as “one hell of an invention” in a note posted on the firm’s website
- Dalio perceives cryptocurrency to hold option-like loss capacity
- The company is viewing digital assets for the introduction of two new funds
Ray Dalio has indicated that Bitcoin is a great invention and holds massive potential.
Bitcoin’s Creation Appreciated By Dalio
The founder of Bridgewater Associates, Ray Dalio, recently posted a note on the company’s website. He referred to Bitcoin as “one hell of an invention” in the same post, appreciating the world’s largest cryptocurrency. Additionally, he mentioned that company associates discuss potential investments into digital assets at Bridgewater. It is to establish two novel funds. These will be set up to provide security and protection to users. It comes in the wake of Fiat currency’s loss of value in the market.
Dalio highlighted his amazement and admiration toward the invention of cryptocurrency. He stated that the process of introducing a completely new form of currency on a digital platform is nothing less than impressive. On top of that, it has been a decade since digital assets were introduced, and they are still gaining momentum and popularity. To establish a new form of exchange that has a twofold function of being a currency and a store of value is a noteworthy accomplishment. This note has been addressed to the firm’s customers and outlines an asset’s rare presence, which can be compared to gold.
Challenging To Determine Value Of Crypto
Along with other sceptics, Dalio included that the concern surrounding the determination of cryptocurrency value is still prevalent. Even though Bitcoin possesses the capacity to increase profits significantly in a shorter period, the market volatility cannot be ignored. It is a high risk higher return investment, but at the same time, the risks can lead to a loss of millions of dollars. The vulnerability of digital assets to cyber exploits and scams is also a consideration which may lead to a downturn in the digital share market. All these reasons could culminate into possible limitations and restrictions imposed by the government to prevent illicit uses of cryptocurrency.
Despite the pros and cons posed by digital currency, Dalio is undoubtedly a supporter of Bitcoin. He endorses many ventures which range from the analysis of blockchain technology to providing trading platforms for crypto exchanges.
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