Ray Dalio, billionaire, and founder of Bridgewater Associates said that he owns some Bitcoin.
Dalio is the founder of the world’s largest hedge fund. As a high-profile investor, he usually was asked about his opinion on Bitcoin. Although he denied putting just a little percentage of his net worth into the digital asset, the growing inflation expectations open the eyes of the investors and their wallets.
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During an interview filmed on May 6th, Dalio says that he owns “some” Bitcoin. According to his statement, cryptocurrency is a better hedge against inflation than bonds. “Personally, I’d rather have bitcoin than a bond” – he said.
“I think bitcoin’s biggest risk is its success,” he added. What he meant is that the growing investor’s demand will lead to an increase in the price and focus from the government. Last week we noted some authorities keeping a close eye on the crypto industry. On Friday China’s Vice Premier Liu He said that the county “…should crackdown on bitcoin mining and trading activities…”.
Dalio was a crypto skeptic. At the end of the last year he tweeted: “Unlike gold, which is the third-highest reserve asset that central banks own, I can’t imagine central banks, big institutional investors, businesses or multinational companies using [bitcoin],”.