Ray Dalio, an investor and the founder of hedge fund company Bridgewater Associates, announced pulling money out of his personal wealth and putting the same into Bitcoin as investment, even though he strongly believes that inevitably the governments will put a ban on crypto. He believes that Bitcoin does not need enemies as its success is one of its greatest enemies.
Bridgewater Associates is currently the world’s biggest organization that renders services of hedge funds. The company was founded in the United States of America by Ray Dalio, who is a renowned billionaire investor and business entrepreneur. Though he is an experienced trader he never hesitated in appreciating and adopting new trading and investment products.
Being a professional, he never believed in accepting any new trading products without first understanding them. This is why, although Bitcoin had been in the world since 2009, however, he only decided to appreciate it in the last year. Still though shares a conflicting opinion but he neither discourages nor encourages people to be a part of the crypto investment bandwagon.
However, in the recent past, approximately a month ago, Dalio spoke about Bitcoin and he said that governments might be imposing crypto trading. His comments were soon noticed within and outside the crypto community where some agreed but the majority did not approve.
He has been recently interviewing while he was attending the Consensus 2021 seminar which was held on 6th May 2021. However, the portion of his interview has been published on 25th May 2021. In the interview, Dalio disclosed that there is a certain number of Bitcoin units in his ownership and possession. He then spoke about Bitcoin and pointed out that to the global governments, Bitcoin should neither be a small nor a big problem. He suggested that even with all its fundamental flaws Bitcoin manages to succeed then let it be. However, if someone will ever try to control or contain it, then in his opinion, the governments do not have the equipment required.
He pointed out that the governments are wary of the fact that people are developing their trust in crypto. So if one were to invest, for the purposes of saving, then the person would prefer crypto and ignore bonds per se. This is where the danger lies and investors playing in the wrong field where only governments decide who should play and who shouldn’t. He gave his example and said if he were to select from Bitcoin and bond, then his choice would be Bitcoin.
Before he wrapped up his interview, he suggested that the great risk to Bitcoin is not from outside but from within. He claimed that the greatest enemy of Bitcoin is its own “success”.
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