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 Thursday.
Dalio currently serves as the Bridgewater Associates chairman and co-chief 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?” The Bridgewater chairman replied, “I think it’s interesting,” disclosing 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’ll be outlawed, 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.”
This was not the first time that the Bridgewater boss warned about governments outlawing cryptocurrencies. In January, he explained that the government outlawed gold and silver in the past, so they could similarly outlaw bitcoin. In September, he said governments could kill bitcoin if it becomes “really successful.”