““I think at the end of the day, if it really works, they’ll kill it. And they’ll try to kill it. And I think they’re going to kill it because they have methods of killing it. But that doesn’t mean it has no place – a value and so on. “”
Ray Dalio, billionaire investor and founder of Bridgewater Associates, the world’s largest hedge fund, said the more successful Bitcoin becomes, the more likely it will be neutralized by governments and regulators that support traditional monetary systems.
In an interview with CNBC on Wednesday, Dalio reiterated his past comments: repeat that governments have the power to undercut the growth of the nascent cryptocurrency market, including bitcoin
on the Ethereum blockchain, which can pose a threat to conventional finance and global central banks.
Dalio said Bitcoin may not have “intrinsic value” but said it could still be useful in a diversified portfolio. The hedge fund manager said he thought it would be worthwhile to consider all alternatives to cash and all alternatives to some of the financial assets.
“I’m not an expert on this … I think diversification is important,” he said. “Bitcoin has a number of advantages,” he said.
“The real question is how much? [does an investor] Gold versus what you have in Bitcoin, ”he noted.
For his part, Dalio stated that he “keeps a certain amount of money in Bitcoin … it’s a small percentage of what I have in gold, which is a small percentage of what I have in my other assets.”
and the Nasdaq Composite
aiming to break a recent downtrend in trading.
Dalio, a prominent figure in the financial world, has a net worth of $ 20 billion. according to Forbes.
In the past, Dalio, founder of the world’s largest hedge fund firm, Bridgewater Associates, said he was “very optimistic” about crypto as a digital clearing mechanism, perhaps decentralized finance or DeFi.