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Billionaire Ray Dalio, the founder of the world’s largest hedge fund Bridgewater Fund, said that Bitcoin’s value of $1 million is unbearable. He explained: “Logically… its value is limited compared to other irresistible things.”
Ray Dalio on where the value of Bitcoin is heading
In a joint interview with Lex Fridman revealed on Saturday, Bridgewater Associates founder Ray Dalio shared his reading on how high he thinks the value of Bitcoin might be. Dalio is currently Chairman and Co-Chief Investment Officer of Bridgewater Associates. His company’s customers include endowment funds, governments, foundations, pension funds, and sovereign wealth funds.
Bridgewater’s boss was asked if he thought the value of Bitcoin could reach a very high range, such as $1 million. Dalio replied immediately:
“I don’t think it is possible.”
“The way I explore it is to have an exact amount [bitcoin] And there is an exact amount of gold,” he elaborated. “I will use gold as a benchmark,” he added, noting that the market value of Bitcoin is currently about $1 trillion, so the market value of the entire crypto market is about 2.2 trillion. Dollar.
“If you use the amount of cash in gold, the cash is not used for the jewelry function, nor is it used by the central bank-and I assume that Bitcoin will not be used for the jewelry function or the central bank function-then the amount of gold is about 5. Trillions of dollars,” he explained. “So, if you immediately have a portfolio of gold and bitcoin, its value is two percent of the value of gold.”
They emphasized that he doesn’t think Bitcoin is worth a lot of gold. “I think two percent sounds right,” the thoroughbred admitted, “I don’t quite understand what the correct answer is.”
The founder of Qiaoshui said: “If you treat gold as a kind of life, then its use becomes more and more meaningless.” In admitting that he was “unsure about something,” Dario said:
Logically speaking, in Maine’s view, its value is limited in relation to other irresistible things.
Dario has previously stated publicly that his portfolio includes some cryptocurrencies in order to achieve diversification. Regarding Bitcoin, he said: “I think in the past 10 or 11 years, the show has still been postponed, which is really spectacular. It hasn’t been hacked, and then it’s associated with the adoption rate.”
For how high the value of Bitcoin might reach, some people cheered Dario. For example, Microstrategy Chief Operating Officer Michael Saylor expects that the value of BTC will continue to rise against the U.S. dollar.Pro-bitcoin
The government specifically mentioned that it may reach 600,000 U.S. dollars and 6 million U.S. dollars a coin in the future.
Post Billionaire Ray Dalio believes that Bitcoin has limited value and suspects that BTC will reach 1 million US dollars First appeared in Bitcoin wire.
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