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Ray Dalio Still worried about the Government Outlawing Cryptocurrency

Billionaire hedge fund manager Ray Dalio is still concerned that the government can outlaw Cryptocurrency.

The founders of Bridgewater Associates, the world’s largest hedge fund, are still concerned that the government can outlaw password money. Nevertheless, he owns some of Bitcoin for diversification with digital gold.

Ray Dalio is concerned about the government outlawing cryptocurrencies

Bridgewater Associates founder Ray Dalio is still concerned that the government could break cryptocurrencies. Dario currently serves as the company’s Chairman and Chief Investment Officer. Bridgewater Associates’ clients include funds, governments, foundations, pensions, and sovereign wealth funds.

Dario expressed concern in an interview with CNBC last week and said that cryptocurrencies, including bitcoin, could finally be outlawed by the federal government.

He pointed out when President Franklin D was there. Roosevelt signed the Bullion Act in 1934 and transferred all the state’s undisclosed gold titles and certificates to the US Treasury as an example. The executive explained that the previous big recession and inflation events could urge the government to do the same for bitcoin or other cryptocurrencies.

The 72-year-old billionaire told CNBC last week: “I own very small bitcoins. I am not a large owner,” he added: “Bitcoin is like digital gold, with certain assets you want to own to diversify your portfolio.” “I think it’s just multi-faceted. Overall, I don’t know if Bitcoin will rise or fall. Both can be claimed,” he admitted.

A Bridgewater Associates executive explained that it is important to continually reassess your investment and not buy well-performing assets in the short term. “Be aware that you are investing money in what,” he said, “creating diversification not only in the United States but globally.” He still prefers gold, citing the long history of metal, which was a digital version of

 Bitcoin and a “deposit of departments” would be different while considering it as a hedge of inflation. He said: “If you hit my head with a gun and say,’ I can only do one,’ I’m choosing gold.

Different O’s password money ban concerns are becoming less real over time as the adoption of password money increases worldwide. Last week, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), said Satoshi Nakamoto’s  “innovation is a real.” The world’s largest investment banks such as JP Morgan, Goldman Sachs, Citigroup, and Morgan Stanley are also entering the password money market. The company also employs more people working on crypto projects including Amazon, Fidelity, and Paypal.

 

What do you think of Ray Dalio’s concerns? Please let us know in the comments section below.

 

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