Ray Dalio again on Bitcoin: “If he is successful they will kill him”

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Ray Dalio, the founder of the largest hedge fund in the world, reinforced his prediction on Bitcoin: “I think if it is really successful in the end, they will kill it and try to kill it. I think they will succeed because they have the means to kill him ”. The number one of Bridgewater Associates, for some time open to the inclusion of Bitcoin in the portfolio as a form of diversification, has always been very cautious in his predictions on the definitive affirmation of Bitcoin in the mainstream.

On the one hand, he stated in his latest interview with Cnbc, “We have El Salvador”, which has adopted Bitcoin as its official currency along with the dollar, “on the other hand India and China which are trying to get rid of it. And then there is the United States talking about how to regulate it and how it could be controlled ”.

As Dalio himself had previously stated, the success of Bitcoin as a means of payment constitutes the “greatest risk” for its future, since it is unlikely that the States would accept the competition of “private” currencies. In addition to the cases cited by the founder of Bridgewater, the South Korea has recently tightened the crypto universe, requiring exchanges to register as trading platforms and open a real-name bank account that allows for proper anti-money laundering controls.

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The regulatory environment is particularly important for cryptocurrencies, since they have no intrinsic value. “There are so many things, in a historical perspective, that didn’t have intrinsic value, but had perceived value” just like Bitcoin. Sometimes the prices of those items “warmed up”, sometimes “cooled down and it could end either way”. Also like “the tulips in Holland”, Dalio said, citing the first historical speculative bubble.

A few months ago Dalio himself took a strong stance in favor of Bitcoin, claiming to prefer it to bonds. The famous investor, despite the risks, has not abandoned the cryptocurrency:
“I think it’s worth considering all alternatives to cash and all alternatives to other financial assets. Bitcoin is a possibility. I have a certain amount of money in Bitcoin ”.

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