Billionaire Ray Dalio Firmly Insists Federal Governments Might Forbid Bitcoin
< img width=" 1280" height=" 720" src=" http://investincryptocoins.com/wp-content/uploads/2022/01/qjPE3s.jpg "class =" story __ img article __ poster" alt= "Billionaire Ray Dalio Insists Governments Could Disallow Bitcoin" loading=" lazy" > Billionaire Ray Dalio, the creator of the world’s largest hedge fund, Bridgewater Associates, has restated his caution that governments might disallow bitcoin.” In history, they’ve forbidden gold and they’ve forbidden silver and so on,
and they could ban bitcoin,” he stressed. Ray Dalio Continues to Caution About Governments Banning Cryptocurrency
Bridgewater Associates creator Ray Dalio talked about bitcoin as he restated his warning that federal governments might ban the cryptocurrency on the Financier’s Podcast Network, published Saturday. Dalio presently serves as Bridgewater Associates’ chairman and co-chief financial investment officer. His firm’s customers consist of endowments, governments, foundations, pensions, and sovereign wealth funds.
Dalio warned that “there are regulative problems” surrounding bitcoin. “When you have an alternative currency, that’s a danger to every government,” he elaborated. “Every government wants a monopoly in their own currency and especially if you get a better currency since it does not get cheapened.” Dalio included:
In history, they have actually outlawed gold and they have actually disallowed silver and so on, and they could ban bitcoin.
However, Dalio admitted that he has a percentage of bitcoin in his portfolio for diversity. “I’m Mr. diversification,” he stated. The Bridgewater Associates manager also just recently exposed that he also owns some ether (ETH).
Commenting on the recommendation by another famous fund manager, Bill Miller, who stated that financiers need to hold about 1% to 2% of their portfolio in bitcoin, Dalio said, “I think that’s right.”
Regardless of the concern that governments may ban bitcoin, Dalio believed:
It’s extremely impressive that this idea was set something like 10, 11 years back and has stood the test of time.
The billionaire previously stated he does not think that bitcoin will replace gold as some people have recommended. He likewise does not believe that the cost of BTC might reach an extremely high number such as $1 million.
On the other hand, Microstrategy CEO Michael Saylor has repeatedly stated that bitcoin will replace gold. The pro-bitcoin executive likewise expects the price of BTC to reach $6 million. In addition, fund managers are progressively opting to purchase bitcoin over gold, seeing the cryptocurrency as a better store of worth.
The Bridgewater Associates creator has actually alerted about federal governments banning bitcoin for rather a long time. In September last year, he said that regulators will kill bitcoin if it becomes “really successful.” In addition, he said in May in 2015 that the success of cryptocurrencies could bring difficult guidelines. For example, he kept in mind regulators could enforce “shocking” taxes on digital currency.
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In Case You Missed It Published at Sun, 02 Jan 2022 23:00:54 +0000