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At the World Economic Forum, Dalio stated that he thinks blockchain is excellent, but that “let’s call it a digital gold.”
The World Economic Forum (WEF) conference in Davos, Switzerland, which began on May 22 and closes on May 26, has dominated the news this week.
Ray Dalio, the founder of Bridgewater Associates, talked at the event about the current state of the economy, the Federal Reserve, currency, and cryptocurrencies.
‘There’s Going to Be a Supply and Demand Problem That Produces a Squeeze,’ says billionaire hedge fund manager Ray Dalio.
Future of money
During the first week of February, Bitcoin.com News covered billionaire Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund.
Dalio was speaking on the future of money at the time, and the investor predicted that cryptocurrency will be “outlawed, possibly by multiple governments.” Dalio is now in Davos, Switzerland, where he is meeting with world leaders, economists, and financial titans.
In an interview with CNBC’s Andrew Ross Sorkin on the show Squawk Box, the founder of Bridgewater Associates said.
Dalio spoke about the future of money and the Federal Reserve’s next monetary policies once more.
The hedge fund manager feels the Fed has no choice except to sell. “The Federal Reserve will sell, people will sell, foreigners will sell, and the United States government will sell because it has to support its deficit,” according to an extract from Dalio’s interview.
Dalio’s view is pessimistic, and he’s not the only one at Davos at the World Economic Forum who feels the world economy is under siege.
Reuters writer Dan Burns, reporting from the World Economic Forum’s multi-day meeting, said that particular dangers like as the Ukraine-Russia war, food shortages, and China’s recent Covid-19 lockdowns had “There is no clear end” and “the pessimism has intensified.
At the WEF event, the founder of Bridgewater Associates stated that currency is currently trash. “Of sure, the currency is still rubbish,” Dalio told a reporter from CNBC.
The hedge fund executive said, “Do you know how quickly you’re losing buying power in cash?” Dalio went on to clarify what he means when he says cash is trash.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
