Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has shared his view on cryptocurrency investing and the future of money. He believes that crypto will be banned by different governments.
Ray Dalio on the Future of Money and Crypto
Bridgewater Associates founder Ray Dalio discussed cryptocurrency regulation and the future of money in an interview with David Rubenstein on Thursday.
Dalio currently serves as the Bridgewater Associates chairman and cochief investment officer. His firm’s clients include endowments, governments, foundations, pensions, and sovereign wealth funds.
He was asked, “How do you foresee crypto impacting the world order?” Bridgewater’s chairman replied, “I think that’s interesting,” revealing that he has “a tiny percentage” of his portfolio in crypto.
He explained: “I wanted to diversify but it’s a very vulnerable incident because they can track who is operating on it. It can be tracked.” He added:
It will be banned, probably by different governments.
In addition, Dalio opined: “In terms of its size, it has issues. So I think too much attention is spent on crypto.”
It was not the first time the Bridgewater boss has warned against governments banning cryptocurrencies. In January, he explained that the government had banned gold and silver in the past, so they could also ban bitcoin. In September, he said governments could kill bitcoin if it became “really successful.”
Dalio further shared with Rubenstein:
I think that we are now in an era where we are going to have different types of money.
“We will challenge money as a medium of exchange, but it is also a store of wealth,” the billionaire noted. “And we’re going to ask ourselves what are the good stores of wealth in value.”
He concluded: “And, you are going to see around the world … the digital version of that take place in many forms … [and] You are going to see other forms of that competition … in the years ahead.”
