Monday, January 17, 2022

Billionaire Ray Dalio Insists Governments Could Outlaw Bitcoin – Regulation Bitcoin News

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Billionaire Ray Dalio, the founding father of the world’s largest hedge fund, Bridgewater Associates, has reiterated his warning that governments might outlaw bitcoin. “In history, they’ve outlawed gold and they’ve outlawed silver and so on, and they could outlaw bitcoin,” he confused.

Ray Dalio Continues to Warn About Governments Outlawing Cryptocurrency

Bridgewater Associates founder Ray Dalio talked about bitcoin as he reiterated his warning that governments might outlaw the cryptocurrency on the Investor’s Podcast Network, revealed Saturday. Dalio presently serves as Bridgewater Associates’ chairman and co-chief funding officer. His agency’s shoppers embody endowments, governments, foundations, pensions, and sovereign wealth funds.

Dalio warned that “there are regulatory issues” surrounding bitcoin. “When you have an alternative currency, that’s a threat to every government,” he elaborated. “Every government wants a monopoly in their own currency and particularly if you get a better currency because it doesn’t get devalued.” Dalio added:

In historical past, they’ve outlawed gold they usually’ve outlawed silver and so forth, they usually might outlaw bitcoin.

Nonetheless, Dalio admitted that he has a small quantity of bitcoin in his portfolio for diversification. “I’m Mr. diversification,” he mentioned. The Bridgewater Associates boss additionally not too long ago revealed that he additionally owns some ether (ETH).

Commenting on the advice by one other well-known fund supervisor, Bill Miller, who mentioned that buyers ought to maintain about 1% to 2% of their portfolio in bitcoin, Dalio mentioned, “I think that’s right.”

Despite the fear that governments might ban bitcoin, Dalio opined:

It’s very spectacular that this idea was programmed one thing like 10, 11 years in the past and has stood the check of time.

The billionaire beforehand mentioned he doesn’t imagine that bitcoin will change gold as some folks have recommended. He additionally doesn’t imagine that the worth of BTC might attain a really excessive quantity similar to $1 million.

In distinction, Microstrategy CEO Michael Saylor has repeatedly mentioned that bitcoin will change gold. The pro-bitcoin govt additionally expects the worth of BTC to attain $6 million. In addition, fund managers are more and more opting to put money into bitcoin over gold, seeing the cryptocurrency as a higher retailer of worth.

The Bridgewater Associates founder has warned about governments banning bitcoin for fairly a while. In September final 12 months, he mentioned that regulators will kill bitcoin if it turns into “really successful.” In addition, he mentioned in May final 12 months that the success of cryptocurrencies might carry robust rules. For instance, he famous regulators might impose “shocking” taxes on digital foreign money.

Do you agree with Ray Dalio? Let us know within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.




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