Billionaire Ray Dalio insists that the government can ban Bitcoin – Regulate Bitcoin News

Billionaire Ray Dario, the founder of the world’s largest hedge fund Bridgewater Fund, reiterated his warning that the government may ban Bitcoin. “In history, they have banned gold, they have banned silver and so on, they can ban Bitcoin,” he emphasized.

Ray Dalio continues to warn the government to ban cryptocurrencies

Ray Dalio, the founder of Bridgewater Associates, talked about Bitcoin because he reiterated his warning that the government might ban the cryptocurrency on the Investor’s Podcast Network, which was released on Saturday. Dalio currently serves as Chairman and Co-Chief Investment Officer of Bridgewater Associates. His company’s clients include endowment funds, governments, foundations, pension funds and sovereign wealth funds.

Dario warned that there are “regulatory issues” surrounding Bitcoin. “When you have an alternative currency, it is a threat to every government,” he elaborated. “Every government wants to monopolize its currency, especially if you get a better currency, because it won’t depreciate.” Dario added:

In history, they have banned gold, banned silver and so on, they can ban Bitcoin.

Nevertheless, Dalio admitted that he A small amount Bitcoin in his portfolio diversification“I am Mr. Diversity,” he said. The owner of Bridgewater Associates also recently revealed that he also owns some ether (Ethereum).

Commenting on the advice of Bill Miller, another well-known fund manager, he said that investors should hold about 1% to 2% of the Bitcoin portfolio. Dario said, “I think this is correct.”

Although worried that the government might ban Bitcoin, Dario believes:

What is impressive is that this concept was written 10 or 11 years ago and has withstood the test of time.

The billionaire has previously stated that he does not believe that Bitcoin will replace gold as some have suggested.He doesn’t believe in prices either Bitcoin Can reach very high numbers E.g. $1 million.

In contrast, Microstrategy CEO Michael Saylor has repeatedly stated that Bitcoin Will replace gold. Executives who support Bitcoin also expect Bitcoin arrive Reached 6 million U.S. dollarsIn addition, fund managers are increasingly choosing to invest in Bitcoin instead of gold, treating cryptocurrency as a form of Better store of value.

Bridgewater co-founder warns the government Ban Bitcoin For a long time. In September last year, he stated that if Bitcoin becomes “Really successful. In addition, he stated in May last year that the success of cryptocurrencies may bring strict regulationsFor example, he pointed out that regulators may impose “shocking” tax About digital currency.

Do you agree with Ray Dalio? Please let us know in the comments section below.

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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