Thursday, January 27, 2022

There Is a Limitation on BTC’s Price, Says Ray Dalio

- Advertisement -
- Advertisement -
- Advertisement -


Ray Dalio, a US-based billionaire and hedge fund supervisor, lately commented concerning the value of Bitcoin and its comparability with gold. According to Dalio, there may be a limitation on the value of the world’s largest cryptocurrency.

The founding father of Bridgewater Associates, one of many world’s greatest hedge funds, believes that the $1 million per Bitcoin situation will not be attainable below present circumstances. He added that the entire market capitalization of BTC remains to be distant from gold’s market worth.

“The way I look at it is there’s a certain amount of it [bitcoin] and there is a certain amount of gold. I’ll use gold as a benchmark,” he defined throughout an interview with Lex Fridman, a main expertise researcher.

When requested about the opportunity of BTC touching the value degree of $1 million, Dalio stated: “I don’t think that’s possible. Logically it seems to me that there’s a limitation on its price in relation to other things like it.”

Crypto Ecosystem

Dalio, who lately revealed that he’s holding Ethereum and Bitcoin, talked concerning the financial and crypto ecosystem in his dialogue with Lex Fridman.

“When I look at it, I think we are in an environment of what is the alternative money. In my opinion, money has two purposes, a medium of exchange and a store hold of wealth. I look at Bitcoin as an alternative to gold. The total market cap of BTC is $1 trillion and the market cap of cryptocurrencies in total is $2.2 trillion. If you take the amount of money that is in gold that is not used for jewelry purposes and not used by central banks, and I assume bitcoin won’t be used for jewelry purposes or central bank purposes, that amount of gold is about $5 trillion,” Dalio defined.

In March 2021, the founding father of Bridgewater Associates known as Bitcoin ‘Digital Cash’ throughout an interview with Andy Serwer.

Ray Dalio, a US-based billionaire and hedge fund supervisor, lately commented concerning the value of Bitcoin and its comparability with gold. According to Dalio, there may be a limitation on the value of the world’s largest cryptocurrency.

The founding father of Bridgewater Associates, one of many world’s greatest hedge funds, believes that the $1 million per Bitcoin situation will not be attainable below present circumstances. He added that the entire market capitalization of BTC remains to be distant from gold’s market worth.

“The way I look at it is there’s a certain amount of it [bitcoin] and there is a certain amount of gold. I’ll use gold as a benchmark,” he defined throughout an interview with Lex Fridman, a main expertise researcher.

When requested about the opportunity of BTC touching the value degree of $1 million, Dalio stated: “I don’t think that’s possible. Logically it seems to me that there’s a limitation on its price in relation to other things like it.”

Crypto Ecosystem

Dalio, who lately revealed that he’s holding Ethereum and Bitcoin, talked concerning the financial and crypto ecosystem in his dialogue with Lex Fridman.

“When I look at it, I think we are in an environment of what is the alternative money. In my opinion, money has two purposes, a medium of exchange and a store hold of wealth. I look at Bitcoin as an alternative to gold. The total market cap of BTC is $1 trillion and the market cap of cryptocurrencies in total is $2.2 trillion. If you take the amount of money that is in gold that is not used for jewelry purposes and not used by central banks, and I assume bitcoin won’t be used for jewelry purposes or central bank purposes, that amount of gold is about $5 trillion,” Dalio defined.

In March 2021, the founding father of Bridgewater Associates known as Bitcoin ‘Digital Cash’ throughout an interview with Andy Serwer.



Source hyperlink

- Advertisement -

More from the blog

US Sentences Bitcoin Seller to 1 Year in Jail for Defrauding Investors – Regulation Bitcoin News

A bitcoin vendor has been sentenced to one yr and at some point in jail for defrauding clients, in accordance to a discover...

TP ICAP Adds Susquehanna as Market Market for Upcoming Crypto Platform

TP ICAP, the most important inter-broker seller, introduced on Thursday that it has added Susquehanna, a quantitive buying and selling agency, as a...

Precious Metals, Cryptocurrencies, Stock Markets Falter Following Powell’s Rate Hike Statements – Economics Bitcoin News

Equities, crypto markets, and valuable metals did effectively in the course of the early morning buying and selling classes on Wednesday, simply earlier...

Gen.G Esports Signs Partnership with South Korean Bithumb Crypto Exchange

On January 26, Gen.G, a world esports group, introduced its new partnership with Bithumb, a South Korean cryptocurrency change. Through Twitter,...