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Billionaire Ray Dario, the founder of the world’s largest hedge fund Bridgewater Fund, reiterated his warning that the government may ban Bitcoin. “In history, they have illegal gold and illegal silver, etc., and they may ban Bitcoin,” he emphasized.
Ray Dalio continues to warn the government to ban cryptocurrencies
It was revealed on Saturday that Ray Dalio, the co-founder of Bridgewater, talked about Bitcoin because he reiterated his warning that the government may ban the cryptocurrency on the investor podcast network. 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.
Dario warned that “there are restrictive issues”, including Bitcoin. “When you own another currency, it is a threat to every government,” he detailed. “Every government wants to monopolize its currency, and if you get a stronger currency, it won’t depreciate.” Dario added:
In history, they have illegal gold and illegal silver, etc., and they may ban Bitcoin.
Nonetheless, Dalio admitted that he included some bitcoins in his portfolio to achieve diversification. “I am Mr. Diversity,” he said. The boss of Bridgewater Associates recently publicly stated that he jointly owns some ether (ETH).
Commenting on the advice of Bill Miller, another well-known fund manager, Dario said: “I think this is right. Investors should hold 20 Bitcoin portfolios in I Chronicles.”
Although worried that the government might ban Bitcoin, Dario believes:
It is spectacular that this idea was programmed ten or eleven years ago, and has withstood the test of time.
They said it a long time ago. He does not believe that Bitcoin can replace gold as some people urge. He also didn’t believe that the value of BTC might reach 1 million US dollars, which is too high.
What’s different is that Siler, the executive angel of Microstrategy, has repeatedly stated that Bitcoin can replace gold. The governments that support Bitcoin collectively predict that the value of BTC will reach 6 million U.S. dollars. In addition, fund managers have gradually chosen to occupy a place in Bitcoin rather than gold, viewing cryptocurrencies as a stronger import reserve.
The founder of Bridgewater Associates warned that the government has been slow to ban Bitcoin. In September of last year, he stated that if Bitcoin becomes “really prosperous,” regulators can stifle Bitcoin. In addition, he said last year that the success of cryptocurrencies may bring strong rules. For example, he pointed out that regulators may impose “shocking” taxes on digital currencies.
Post Billionaire Ray Dalio insists the government may ban Bitcoin First appeared in Bitcoin wire.
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