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- Billionaire Ray Dalio, Founder of Bridgewater Associates, the world’s largest hedge fund, talked about crypto regulation and the future of money in an interview with David Rubenstein on Thursday.
- The Bridgewater Boss believes crypto is going to be outlawed by various governments in the coming years. He pointed out that there are also issues with the size of crypto.
- Dalio gives the example of gold and silver and how they were outlawed by the government in the past. He also believes that there is also the possibility of governments “killing Bitcoin” if it becomes successful.
Bridgewater Boss Shares His Views About Crypto
In an interview with David Rubenstein on Thursday, Ray Dalio Bridgewater Associates founder held a discussion on the regulation of cryptocurrency and the future of money.
Ray presently is the co-chief investment officer and chairman of Bridgewater Associates. Governments, endowments, foundations, pensions, and sovereign wealth funds are among the clients of his firm.
When asked if he predicts crypto impacting the world order, the co-chief investment officer said he finds digital assets interesting and also disclosed that he holds a little percentage of the same in his investment portfolio.
He said he invested with the aim to diversify his portfolio, however, he thinks it’s pretty vulnerable that it can be tracked and could be easily known who is operating on it.
He also believes it will eventually be outlawed by various governments.
Besides, he thinks the technology has issues in terms of its size, which is the reason why he thinks a lot of attention might be spent on crypto.
There is Also Possibility Of Government Killing Bitcoin: Bridgewater Chairman
Also, interestingly, this is not the first time that the Bridgewater chairman predicted that the government will outlaw cryptocurrencies. In the past also, he pointed out, the governments have outlawed gold and silver and Bitcoin could experience the same fate. He also put forward a scenario that the government can even destroy Bitcoin if the top crypto becomes “very successful.”
However, Dalio further told Rubenstein that we as humans have entered into an era that will have different types of money.
The Billionaire says there’s going to be a debate in the future about money as a medium of exchange, however, it’s also a storehouse of wealth. He says there will definitely also be questions about the right store hold of wealth in value.
In the end, he predicts that there is going to be digital versions of that taking different forms around the world and along with it the other forms of that competition in the coming years.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
