Billionaire investor and the founder of Bridgewater Associates, Ray Dalio, has repeated his stance on Bitcoin. For some time, Dalio was a skeptic of Bitcoin but eventually came around to the cryptocurrency because of its characteristics and the inflationary outlook.

During an interview on CNBC, the billionaire spoke about portfolio diversification and warned people about the dangers of holding their profits in the US Dollar. Referencing a phrase that has become very popular “Cash is Trash,” Dalio mentions Bitcoin’s value as a store of value.

As we have previously said, the legendary investors has said that he has a stake in Bitcoin. Dalio has been increasing awareness about inflation and what it could do to the global economy with monetary expansion and more debt.

In this context, cash money turns into an asset that gives a negative yield while at the same time Bitcoin is better for its ability to beat other assets, as it has showed since it was created.

The billionaire said that all other alternatives to cash and traditional assets are “worth consideration”. Meaning that Dalio essentially said that Bitcoin was as a “possibility.”

Dalio still is betting more on gold than other assets in his portfolio. However, the Bridgewater founder believes regulators might eventually try to stop Bitcoin’s growth if it gets “too successful”.

“It is an incredible accomplishment to buy Bitcoin from where the programming occurred to where it is now after the test of time. I believe in the end, if it is very successful, they will kill Bitcoin. And I believe they will kill it because they have ways to kill it.”

Could Global Governments Kill Bitcoin?

When confronted with the idea that Bitcoin could be used at the government level, as happened in El Salvador, Dalio dismissed the idea. He says the Central American nation cannot create enough of a counterweight to balance China and India’s action against Bitcoin.

The Asian nations have passed legislation attempting to ban all activities connected to Bitcoin and cryptos. China even banned the whole Bitcoin mining sector cause the cryptocurrency to fall. Dalio said:

“We have El Salvador using it and you have China and India blocking it. And you have the U.S. talking about regulation and how it could be controlled.”

Author: Blake Ambrose

Comments are closed.

Ad Blocker Detected!

Advertisements fund this website. Please disable your adblocking software or whitelist our website.
Thank You!