‘In history, they have outlawed gold’: billionaire Ray Dalio

Ray Dalio, the billionaire founder of the world’s largest hedge fund Bridgewater Associates, has warned crypto investors around the world that a bitcoin boycott on a global scale is a possibility. Speaking on the Investor’s Podcast Network, Dalio said that governments around the world could collectively outlaw bitcoin, an unregulated and decentralized digital asset, currently priced at $46,939 (about Rs 34.92 lakh) on international exchanges. doing business on. The main reason Dalio supported his opinion was that bitcoin itself could become a dangerous alternative currency, challenging the authorities of central banks around the world.

“In history, they have outlawed gold and they have outlawed silver, and so on, and they may have outlawed bitcoin. Every government, according to a report from Bitcoin.com, quoted Dalio. Wants a monopoly in its currency.

Despite admitting to owning bitcoin and ether as part of his diversified portfolio, the billionaire has been consistently skeptical about the growth of the crypto space.

In May 2021, he stated that the success of cryptocurrencies would usher in a number of stricter regulations in the financial sector. Later in September, Dalio said that if bitcoin turns out to be a huge success, regulators will kill the cryptocurrency.

Dalio’s approach to crypto is in stark contrast to that of his contemporary Michael Sailor, CEO of US-based business intelligence firm Microstrategy.

Sailor, who often compares bitcoin to gold, recently predicted that the world’s oldest cryptocurrency, bitcoin, could reach $6 million per token value (about Rs 45 crore) in the coming years.

The 56-year-old businessman reportedly holds at least 17,732 bitcoin tokens, which is currently worth around $860 million (approximately Rs 6,468 crore).


Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, business advice or any kind of advice or recommendation given or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.

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