“I have Bitcoin” Bridgewater Associates founder Ray Dalio confirms
Despite long-time concerns about governments interference and a possible outright cryptocurrency ban, Bridgewater Associates founder Ray Dalio has revealed that he owns bitcoin.
In an interview recorded on May 6 but released at the Coindesk Consensus 2021 conference, Dalio emphasized that Bitcoin is still small and not (yet) a threat to governments. However, he did note that essentially Bitcoin’s own success will be its biggest risk. Something he has previously warned about:
“One of the great things, I think, as a worry is the government having the capacity to control … bitcoin, or digital currencies. They know where they are, and they know what’s going on.”
Dalio continued:
“The more we create savings in [bitcoin], the more you might say, ‘I’d rather have bitcoin than the bond’ … And then the more that happens, then it goes into bitcoin and it doesn’t go into credit, then [governments] lose control of that.”
Serving a wide range of clients as Chief Investment Officer at Bridgewater Associates, such as governments, foundations, pensions, and sovereign wealth funds, Dalio was clear about his preference and said:
“Personally, I’d rather have bitcoin than a bond.”
Dalio has come a long way when it comes to his position on Bitcoin, gradually having learned more about the cryptocurrency and turning in favor of the asset.
Nonetheless, he has always warned against government meddling. He believes that there is a “good probability” that governments will outlaw bitcoin and that bitcoin’s success would bring about tough regulation in the form of “shocking” taxes and other restrictions.
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Source: igaming
