billionaire, hedge fund managers, Ray Dalio bitcoin, Ray Dalio crypto, Ray Dalio cryptocurrency

Billionaire hedge fund manager Ray Dalio has admitted that he may be wrong about bitcoin after stating that governments will ban the cryptocurrency if it “becomes material.†Dalio founded Bridgewater Associates; his hedge fund is the largest in the world.

Ray Dalio Open to Learning About Bitcoin

Bridgewater Associates founder Ray Dalio has admitted that he may be wrong about bitcoin after stating last week that he did not think that cryptocurrencies “will succeed in the way people hope they would.†He further said that governments will outlaw bitcoin if it becomes material.

Dalio is an American billionaire hedge fund manager who founded Bridgewater Associates and has served as its co-chief investment officer since 1985. His hedge fund is the largest in the world, with about $140 billion in assets under management. Dalio has been called the “Steve Jobs of Investing†by AICIO Magazine and Wired Magazine. He was also named one of the 100 Most Influential People by TIME Magazine.

As the price of bitcoin soared, surging about 55% over the past 30 days, Dalio tweeted on Tuesday:

“My problems with bitcoin being an effective currency are simple,†he began to highlight his concerns in a series of tweets.

Firstly, he claimed: “Bitcoin is not very good as a medium of exchange because you can[not] buy much with it (I presume that’s because it’s too volatile for most merchants to use, but correct me if I’m wrong).â€

Secondly, he asserted: “it’s not very good as a store-hold of wealth because it’s volatility is great and has little correlation with the prices of what I need to buy so owning it doesn’t protect my buying power.â€

Next, he reiterated the risk of governments banning bitcoin that he outlined in an interview with Yahoo Finance last week. Dalio said that if bitcoin “becomes material, governments won’t allow it.†He emphasized: “they’ll outlaw it and they’ll use whatever teeth they have to enforce that. They would say … you can’t transact the bitcoin, you can’t have a bitcoin.†The billionaire fund manager similarly tweeted Tuesday:

The Bridgewater Associates founder further argued that “unlike gold which is the third-highest reserve assets that central banks own, I can’t imagine central banks, big institutional investors, businesses or multinational companies using it.â€

Dalio ended his series of tweets with “If I’m wrong about these things I would love to be corrected. Thank you.â€

Bitcoiners Addressing Ray Dalio’s Concerns

Many bitcoiners replied to Dalio’s bitcoin tweets. While the comments varied, some people attempted to address Dalio’s three concerns in detail. One of them was Blockfi CEO Zac Prince, who addressed each point Dalio made against bitcoin being an effective currency.

Founder of Mythos Capital Ryan Sean Adams chimed in, explaining that “Bitcoin-like assets aren’t meant to be a MoE, but a SoV to back digital stablecoins, similar to how gold once backed fiat.†Addressing Dalio’s government ban concern, he simply stated that “Game theory forces central banks to hold it; MMT will forces CBs into the digital realm.â€

Capriole Investments founder Charles Edwards noted: “All new asset classes start from 0. Starting from 0 means there will be volatility to get to a big number. But if you zoom out, put Bitcoin on a log chart, it is almost as close to a straight line up as you can get. Mediums of exchange take time to become accepted among the population. Fact: you can use bitcoin debit cards to buy goods anywhere globally.â€

Many replies simply point Dalio to their own work explaining about bitcoin or other popular resources. The official Twitter account of Fidelity Digital Assets wrote: “Mr. Dalio — many of your concerns around bitcoin are what we discuss with institutional investors every day at Fidelity Digital Assets.â€

Some people see Dalio’s comments as a sign that he personally or his hedge fund will soon buy bitcoin. Abra CEO Bill Barhydt tweeted: “Anyone want to take a bet that Ray Dalio does a 180 on bitcoin in the next 6 months or sooner?†Lark Davis, aka The Crypto Lark, wrote:

What do you think about Ray Dalio’s view on bitcoin? Let us know in the comments section below.

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.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Ray Dalio Buys Bitcoin Despite Saying Governments May Ban Cryptocurrencies

Bridgewater Associates founder Ray Dalio has revealed that he owns bitcoin despite concerns he has long voiced about governments interfering and even outlawing cryptocurrencies. The boss of the world’s largest hedge fund said “bitcoin’s greatest risk is its success.†Ray Dalio Got Bitcoin Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, […]

Xem chi tiết: Ray Dalio Buys Bitcoin Despite Saying Governments May Ban Cryptocurrencies

Ray Dalio Buys Bitcoin Despite Saying Governments May Ban Cryptocurrencies

Bridgewater Associates founder Ray Dalio has revealed that he owns bitcoin despite concerns he has long voiced about governments interfering and even outlawing cryptocurrencies. The boss of the world’s largest hedge fund said “bitcoin’s greatest risk is its success.†Ray Dalio Got Bitcoin Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, […]

Xem chi tiết: Ray Dalio Buys Bitcoin Despite Saying Governments May Ban Cryptocurrencies

Ray Dalio Buys Bitcoin Despite Saying Governments May Ban Cryptocurrencies

Bridgewater Associates founder Ray Dalio has revealed that he owns bitcoin despite concerns he has long voiced about governments interfering and even outlawing cryptocurrencies. The boss of the world’s largest hedge fund said “bitcoin’s greatest risk is its success.†Ray Dalio Got Bitcoin Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, […]

Xem chi tiết: Ray Dalio Buys Bitcoin Despite Saying Governments May Ban Cryptocurrencies

Spanish Regulator Issues Guidelines for Fund Managers Planning to Invest in Cryptocurrencies

The Spanish financial regulator is easing the entity’s tough stance towards cryptocurrencies by announcing an unprecedented measure that green lights institutional investors to enter into such business decisions. The National Securities Market Commission (CNMV) unveiled guidelines that approve institutional crypto investment under certain conditions. Fund Managers Should Specify ‘High Risks’ of Cryptos in Marketing Resources […]

Xem chi tiết: Spanish Regulator Issues Guidelines for Fund Managers Planning to Invest in Cryptocurrencies

Real Estate Billionaire Buys Bitcoin, Accepts BTC for Rent Payment at His Residential and Retail Properties

Billionaire real estate mogul Rick Caruso has revealed that his company has invested in bitcoin for its treasury and will begin accepting the cryptocurrency for rent payment at its properties. Among the tenants of one of his properties is Elon Musk’s Tesla. Caruso said, “We believe that cryptocurrency is here to stay.†Caruso Going the […]

Xem chi tiết: Real Estate Billionaire Buys Bitcoin, Accepts BTC for Rent Payment at His Residential and Retail Properties

Billionaire Hedge Fund Manager Ray Dalio Says Government Outlawing Bitcoin Is ‘a Good Probability’

The Bridgewater Associates co-founder and chief investment officer, Ray Dalio, says that there is a good probability that the government will outlaw bitcoin in the same way gold was outlawed in the U.S. in the 1930s. Ray Dalio Thinks Governments Can Outlaw Bitcoin Ray Dalio shared his view on whether the government could outlaw bitcoin […]

Xem chi tiết: Billionaire Hedge Fund Manager Ray Dalio Says Government Outlawing Bitcoin Is ‘a Good Probability’

Billionaire Hedge Fund Manager Ray Dalio Says Government Outlawing Bitcoin Is ‘a Good Probability’

The Bridgewater Associates co-founder and chief investment officer, Ray Dalio, says that there is a good probability that the government will outlaw bitcoin in the same way gold was outlawed in the U.S. in the 1930s. Ray Dalio Thinks Governments Can Outlaw Bitcoin Ray Dalio shared his view on whether the government could outlaw bitcoin […]

Xem chi tiết: Billionaire Hedge Fund Manager Ray Dalio Says Government Outlawing Bitcoin Is ‘a Good Probability’

Bridgewater’s Ray Dalio Warns Government Could Restrict Bitcoin Investments, Impose ‘Shocking’ Taxes

The founder and chief investment officer of Bridgewater Associates, the world’s largest hedge fund firm, has warned that the government could “impose prohibitions against capital movements†into assets such as bitcoin. He added that regulators may also impose changes in taxes that “could be more shocking than expected.†Ray Dalio Warns About Government Prohibitions and […]

Xem chi tiết: Bridgewater’s Ray Dalio Warns Government Could Restrict Bitcoin Investments, Impose ‘Shocking’ Taxes

Bridgewater’s Ray Dalio Warns Government Could Restrict Bitcoin Investments, Impose ‘Shocking’ Taxes

Norwegian Oil Billionaire Says BTC Could Be Worth Millions of Dollars Each — Puts Liquid Company Assets in Bitcoin

Jed McCaleb Sells $22 Million Worth of XRP, Ripple Cofounder’s Stash Could Run Dry by May

World’s Largest Hedge Fund Bridgewater Has Crypto Plans — Founder Ray Dalio Calls Bitcoin ‘One Hell of an Invention’

Data Shows 78% of the Circulating Bitcoin Supply Is Illiquid, Only 4.2M BTC in Constant Circulation

Founder of World’s Largest Hedge Fund Ray Dalio Sees Bitcoin as Gold Alternative in Portfolios

Billionaire Hedge Fund Manager Paul Tudor Jones Expects Bitcoin’s Market Cap to Grow Beyond $500 Billion

Millionaires FOMO: 73% Will Own Bitcoin by 2022, Survey

Other Articles