Ray Dalio reveals he owns a crypto –

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Ray Dalio reveals he owns a crypto – fr


Billionaire investor Ray Dalio revealed on Monday that he has some skin in the bitcoin game – and said he would rather invest in cryptocurrencies than buy bonds.

“I have bitcoin,” said the founder of Bridgewater Associates, the world’s largest hedge fund. He didn’t say how much he owned.

He added in a pre-recorded interview with CoinDesk that as bitcoin became more popular, investors could choose to place their savings in crypto rather than in government guaranteed bonds.

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“Personally, I’d rather have bitcoin than a bond,” said Dalio, who expressed his displeasure with the low payment of bonds, especially in times of high inflation. The interview was taped on May 6.

Dalio made his comments ahead of last week’s surge that hit the cryptocurrency market.

Billionaire investor Ray Dalio revealed on Monday that he has some skin in the bitcoin game – and said he would rather invest in cryptocurrencies than buy bonds.

When Dalio’s remarks were recorded earlier this month, bitcoin was trading at around $ 57,000 per coin, near the top of crypto. Last week, digital currency fell below $ 40,000 per coin and nearly hit $ 30,000 before starting this week with a comeback.

The price of Bitcoin rose more than 18% on Monday afternoon to around $ 37,400 per coin.

Dalio’s disclosure that he owns some of the crypto also comes with a disclaimer. He said governments could be increasingly threatened by the rise of bitcoin and its effects on state monetary systems. Governments could seek to crack down on the sector, Dalio added, because as crypto becomes more popular than bonds, governments could lose control over their ability to raise funds.

“Bitcoin’s biggest risk is its success,” he said.

Bitcoin fell below $ 40,000 per coin last week.

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Investors have already seen regulatory developments around the cryptocurrency since Dalio’s remarks were recorded.

Last week, the Federal Reserve and the Treasury Department signaled that a crackdown could be ahead on cryptos, with the Fed announcing it would consider releasing its own cryptocurrency. The Treasury Department said it would require any crypto transfers worth $ 10,000 or more to be reported to the Internal Revenue Service, adding that crypto transactions pose a risk of tax evasion.

And Chinese officials last week called for a crackdown on “mining” and trade, saying tighter regulations are needed to protect the country’s financial system and economy.

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Dalio warned of the impending regulation in January in a blog post titled “What I Think About Bitcoin.”

“I suspect that Bitcoin’s biggest risk is to be successful, because if it succeeds the government will try to kill it and they have a lot of power to be successful,” Dalio wrote.

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