August 12, 2022

Ray Dalio: Bitcoin is “gold-like” but governments won’t let it win


Billionaire hedge fund manager Ray Dalio has sought to clarify his views on the world’s most famous digital asset with the publication of a short essay titled “What I Really Think of Bitcoin”.

Dalio’s views on Bitcoin (BTC) — which he said should be read directly to avoid media misinterpretation — are both hopeful and cautious. Firstly, Dalio recognized the technical accomplishments of Bitcoin and praised its ability to last for over a decade already:

“I believe Bitcoin is one hell of an invention. To have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly gaining popularity as both a type of money and a storehold of wealth is an amazing accomplishment.”

What’s more, Dalio believes that Bitcoin is already an “alternative gold-like asset,” and one that will become more and more important in the future due to the debasement of fiat currencies by excessive money and debt printing:

“Those who have built it and supported the dream of making this new kind of money a reality have done a fabulous job of sustaining that dream and moving Bitcoin (by which I mean it and its analogous competitors)Title: Ray Dalio: Bitcoin is “gold-like” but governments won’t let it win
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Published Date: Fri, 29 Jan 2021 14:36:27 +0000