Bridgewater Associates founder Ray Dalio has revealed he owns bitcoin even though he has long voiced concerns about government interference and even a ban on cryptocurrencies. The boss of the world’s largest hedge fund once said “bitcoin’s biggest risk is its success.”
Ray Dalio Buys Bitcoin
Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, has revealed that he owns bitcoin. In an interview at the Consensus 2022 conference, which was recorded on May 6 but released on Monday, he said:
I have bitcoins.
Dalio is the co-founder and chief investment officer of Bridgewater Associates, whose clients include donations, governments, foundations, pensions and sovereign wealth funds.
Emphasizing that bitcoin is still small and not a threat to governments, he noted that if successful, “one of the great things, I think, is that the government has the capacity to control bitcoin, or digital currency. They know where they are, and they know what’s going on. “
He continued: “The more we make savings in [bitcoin], the more you might say, ‘I’d rather own bitcoins than bonds’ And then the more that happens, then it goes into bitcoin and doesn’t go away. to credit, then [pemerintah] lose control of it. Dalio also said, “Personally, I would rather own bitcoin than bonds.”
As for the biggest risk he sees bitcoin facing, the Bridgewater Associates boss said:
I think bitcoin’s biggest risk is its success.
Dalio has thrived when it comes to bitcoin and cryptocurrencies. In November last year, he admitted that he might be wrong about bitcoin and wanted to learn more about cryptocurrencies. By December, he had learned enough to say he saw BTC as an alternative to gold. In January, he said bitcoin was a “tremendous discovery.”
Overall, though, he warned that governments could limit bitcoin investment, such as by imposing a “shocking” tax. He believes that there is a “good chance” that the government will ban bitcoin and bitcoin’s success will result in strict regulation.