Ray Dalio spoke about how valuable is all the technology, security, and adoption rate of a digital asset such as Bitcoin. He believes that bitcoin can get banned in countries that see it as a threat to the government.
The multi-million dollar investment from the United States of America, Ray Dalio, once again expressed his thoughts about the cryptocurrency with the largest market capitalization, Bitcoin (BTC), and the technologies around crypto-assets.
In an interview with MarketWatch, Ray Dalio said it was such an achievement for Bitcoin due to the development of its network, not being hacked, making it work, and facing its adoption procedure.
Despite having been doubtful of bitcoin for a long time, in the report, Dalio reaffirmed the change of mind he has been manifesting throughout the last year. He took this time to express that the cryptocurrency has earned a bunch of credibilities; this credibility could generate a revolution.
Ray Dalio Sees Bitcoin as the Best Alternative to Beat Inflation
The billionaire confirmed that he is still part of his investment portfolio in bitcoin. The chairman strengthens his conception of cryptocurrency as gold since he considers it currently works as a store of value that rivals the dollar’s role, as he has said on past occasions.
Ray Dalio also spoke about the importance of making investments to avoid losing money because of rising prices. He said he’d like to help people understand all the reasons why cash is so bad. This situation applies to Latin America and the United States of America, which is a country that is currently experiencing the highest inflation in the last 39 years.
Dalio said that citizens think the safest investment is cash but they do not pay attention to the inflation-adjusted return. Like other investors such as Tim Draper, he suggests not keeping all savings in cash. He pointed out that is always better to have a liquid and diversified portfolio of assets if it is balanced.
Bitcoin May Get Banned in Some Countries that See it as a Threat
During the interview, Ray Dalio highlighted that bitcoin has some problems. He assured that, if Bitcoin is a threat to governments, it would probably get banned in some places when it becomes relatively attractive. These events depend on the leader of the state and his strategies to boost the economy of his country.
Ray Dalio recently explained this issue about two countries that took opposite positions concerning cryptocurrencies. On the one hand, El Salvador, which firmly encourages its adoption, and, on the other, China, which has put various prohibitions on the industry during the year.
The 72-year-old investor sounded convinced of his reflections and said the bitcoin’s progress would get destroyed by heads of state if it achieves massive growth. He also aimed his thoughts at China and India, where, according to him, the first signs of what will end up are already brewing, as he pointed out during an interview with the CNBC television network.
By: Jenson Nuñez
