Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has shared his view on cryptocurrency investing and the future of money. He believes that crypto will be banned by different governments.
Ray Dalio on the Future of Money and Crypto
Bridgewater Associates founder Ray Dalio discussed cryptocurrency regulation and the future of money in an interview with David Rubenstein Thursday.
Dalio currently serves as the Bridgewater Associates chairman and cochief investment officer. His firm’s clients include endowments, governments, foundations, pensions, and sovereign wealth funds.
He was asked, “How do you foresee crypto impacting the world order?” The Bridgewater chairman replied, “I think it’s interesting,” disclosing that he has “a tiny percentage” of his portfolio in crypto.
He explained: “I wanted to diversify but it’s a very vulnerable incident because they can track who is operating on it. It can be tracked.” He added:
It’ll be outlawed, probably by different governments.
In addition, Dalio opined: “In terms of its size, it has issues. So I think too much attention is spent on crypto.”
This was not the first time that the Bridgewater boss warned about governments outlawing cryptocurrencies. In January, he explained that the government outlawed gold and silver in the past, so they could similarly outlaw bitcoin. In September, he said governments could kill bitcoin if it becomes “really successful.”
Dalio further shared with Rubenstein:
I think that we are now in an era where we are going to have different types of money.
“We are going to question money as a medium of exchange but it’s also storehold of wealth,” the billionaire noted. “And we are going to be questioning what are the right storeholds of wealth in value.”
He concluded: “And, you are going to see around the world … the digital version of that take place in many forms … [and] You are going to see other forms of that competition … in the years ahead.”
What do you think about Ray Dalio’s comments? Let us know in the comments section below.
Kevin Helms
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
