If Bitcoin Is Too Successful, Governments Will Kill It, Warns Billionaire Ray Dalio | DUTY

The largest hedge fund manager in the world, Ray Dalio, believes that regulators will end up taking control of bitcoin if the cryptocurrency achieves widespread success.

“If he is successful, the governments will not want to have it. In the end, if he is very successful, they will kill him and they have ways to kill him,” Dalio told the US business channel CNBC.

“Cash is rubbish”

Similarly, Dalio cautioned that investors should not be overly reliant on cash and admitted, despite the danger, that he owns some bitcoin. But he assured that his investment in the cryptocurrency is only a small percentage of his investment in gold.

“That doesn’t mean it has no value. Of course, it has no intrinsic value,” Dalio said.

Regarding cash, he said: “Cash is rubbish, so don’t keep it in cash.”

Dalio: the value of bitcoin is in perception and diversification

The Bridgewater Associates founder, with a fortune of $ 15.6 billion, argues that the value of bitcoin may lie in perception and diversification.

“You have El Salvador taking it over and you have India and China getting rid of it. And you have the United States talking about how to regulate it and it could still be controlled,” Dalio told CNBC.

In June, El Salvador became the first country to adopt bitcoin as legal tender. India, meanwhile, intends to ban all forms of private cryptocurrencies. Recently, the media has suggested that the government could soften its tough stance and report cryptocurrencies as commodities. For its part, China has begun cracking down on crypto markets, ordering miners to shut down their operations.

Dalio, 72, became one of the highest-profile investors in cryptocurrency during his career from the lows of March 2020 to the all-time highs reached in April this year, when he hit an all-time high of nearly $ 64,000. . Bitcoin is trading around $ 45,000 today.

Edited by Felipe Espinosa Wang.

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