Billionaire Ray Dalio doubts Bitcoin will reach $ 1 million and explains why (with video) – DiarioBitcoin

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Billionaire Ray Dalio sees a cap on the price of Bitcoin and can reach USD $ 1 million.

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Billionaire Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, says that it is not possible that the price of Bitcoin reach a value as high as $ 1 million.

He explained: “Logically … there is a limitation on its price in relation to other things like this.”

Dalio said it in an interview with Russian podcaster Lex Fridman, where he spoke of “China, Russia, money, power, the rise and fall of empires, and of course some Bitcoin Y Dogecoin”.

Dalio currently serves as President and Co-Chief Investment Officer of Bridgewater Associates. His firm’s clients include mutual funds, governments, foundations, pensions, and sovereign wealth funds.

Fridman asked him if he thinks it is possible that the price of Bitcoin reach a very high number, like $ 1 million. Dalio quickly replied:

I do not think that’s possible.

And he added:

“The way I see it is that there is a certain amount [bitcoin] and there is a certain amount of gold ..“I will use gold as a benchmark,” he added, noting that the market capitalization of Bitcoin It is currently approximately USD 1 trillion and the market capitalization of the entire crypto market is approximately USD 2.2 trillion.

“If you take the amount of money that is in gold that is not used for jewelry purposes and is not used by central banks, and I suppose Bitcoin It won’t be used for jewelry or central bank purposes, that amount of gold is roughly $ 5 trillion… So right now, if you had a briefcase have gold and … Bitcoin, it is worth approximately 20% of the value of gold ”.

The billionaire emphasized that he does not believe that Bitcoin worth more than gold. “I think 20% sounds pretty good,” stated, but admitted: “I really don’t know what the correct answer is.”

He concluded: “If you use gold as a measure, it just doesn’t make sense that much more is going to be used.”. Although he admitted that “He is not sure of anything”, Dalio said:

Logically it seems to me that there is a limitation in its price in relation to other things like that.

Owns crypto

Dalio revealed in May this year that he has a small amount of Bitcoin in your portfolio for diversification. Now regarding Bitcoin, He said: “I think it is very impressive that, for the last 10, 11 years, that programming has still been maintained. It hasn’t been hacked, etc., and has an adoption rate. “

Also, in September, he said that if Bitcoin became a success governments and regulators will try to end crypto.

In August, in addition, he had assured that only if they put a gun to his head to choose only one option, would he choose gold instead of Bitcoin. For him, crypto is good, but gold metal is better.

Here you can see the video of the interview:

Sources: LexFridman, Bitcoin.com, archive

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Billionaire Ray Dalio doubts Bitcoin will reach $ 1 million and explains why (with video) – DiarioBitcoin