Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund, said recently that Bitcoin (“digital gold”) could become a USD 1 trillion asset class in the coming decades. He said that “digital gold” has a greater potential to increase in price than “real gold”, which is why he made this comment to CNBC.
On Friday, June 15th, Ray Dalio gave an insightful and valuable presentation at the “Crypto: Money, Technology, and Society” Conference in New York City. His presentation, entitled “Value and How to Create It”, revolved around the concept of “value” in all realms of our existence.
Ray Dalio is a legendary investor and hedge fund manager. Recently he has expressed interest in Bitcoin. In an interview with CNBC, he said: “Bitcoin is the digital gold. I think it has a lot of value because it’s the first digital currency that has utility. It’s not just a store of value like gold. The problem is, it’s not tangible. So, it’s a great thing to have, but it has limited use.”
TL;DR Summary
• Bitcoin’s price rises after hitting an all-time high earlier this year. Bitcoin investors, according to Ray Dalio, should be cautious.
Bitcoin, according to American billionaire Ray Dalio, may be the next digital gold in today’s financial market. When asked whether he would prefer, gold or cryptocurrency, he said gold without hesitation.
Dalio believes that cryptocurrencies have a bright future, and he has made it a point to invest in them whenever he gets the opportunity. Since last year, the value of cryptocurrencies such as BTC has increased somewhat. Bitcoin hit an all-time high in April, trading over $64,000, but dropped more than half of its value in May.
Bitcoin purchases soared after reaching a new all-time high.
Bridgewater Associates, a fiduciary investment management firm, has spoken about cryptocurrency many times. He’s even proud of the fact that he has Bitcoin in his investing portfolio. The investment firm did not say how many tokens it now holds in storage or if it has earned a profit since purchasing them.
Bridgewater Associates, on the other hand, is worried about the market’s BTC volatility. For many businesses, cryptocurrency has served as a financial alternative to a fiat market with many restrictions on a worldwide scale.
In an interview with CNBC magazine, Ray Dalio said that he presently owns Bitcoin. The businessman said that he did not need to have large assets in order to profit from the crypto market, but that he did have a decent enough investment. Dalio said at the end of the conversation that cryptocurrency may be the next virtual gold.
After reaching an all-time high in April-May, cryptocurrency purchases surged. Despite the fact that investors lost a lot of money, crypto has improved its image after a period of growth. Cryptocurrencies such as Ethereum, Dogecoin, Shiba Inu, and BTC Cash have also grown in popularity as crypto investments.
Cryptocurrency may be a short-term investment, according to experts.
According to Bridgewater Associates’ Co-Chief Investment Officer, Bitcoin is just one component of a strong financial system. Crypto, according to the CEO, is akin to virtual riches that all users should attempt. Crypto turned out to be a pleasant financial surprise for the CEO, with its value skyrocketing after he invested.
Entrepreneurs like Ray Dalio, on the other hand, believe that BTC investments are just transitory. Dalio advises investors to utilize cryptocurrency with prudence and money they don’t need right now.
Dalio said at a conference in May 2021 that cryptocurrency might be used as a coupon to prevent inflation. BTC, despite its volatility, has the potential to be a future financial triumph.
As same as gold, Bitcoin is something that serves its purpose, in the sense that it is a means of securing value or making transactions. Bitcoin may be a better investment than gold, but it is also more volatile.. Read more about ray dalio on bitcoin and let us know what you think.
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