The founder and chief investment officer of Bridgewater Associates, the world’s largest hedge fund, has made his views on bitcoin and cryptocurrency clearer. Ray Dalio also reveals that he and his colleagues at Bridgewater “are intensively focusing on alternative stocks of wealth assets.”
Bridgewater founder Ray Dalio ‘Greatly’ admires Bitcoin
Ray Dalio, founder and chief investment officer of Bridgewater, clarified his view on bitcoin and revealed what his company envisions for cryptocurrency. With about $ 140 billion in assets under management, its hedge fund is the largest in the world. AICIO Magazine and Wired Magazine named Dalio the ‘Steve Jobs of Investing’, and TIME Magazine named him one of the 100 Most Influential People.
In a research note published on the Bridgewater Associates website on Thursday, Dalio wrote: ‘I am writing this to explain what I think of bitcoin. Please note what I am saying here and not what the people in the media are saying as it is reliable. ”
He began to admit that he is not an expert on bitcoin or cryptocurrency. “Yet people demand my non-expert rating of bitcoin and in my own words it is better than distortions in the media, so here it goes, with the warning not to rely on it,” Dalio stated and expanded:
I believe bitcoin is a hell of an invention. To invent a new kind of money through a computer-programmed system that has been working for about ten years and is rapidly gaining popularity, as well as a kind of money as a treasure trove of wealth, is a amazing achievement.
Dalio emphasizes the current need for ‘alternative gold-like assets’ and claims that’ because there are not many of these gold-rich stocks of wealth assets that can be kept private and because the size of their markets is relatively small, there is the possibility that bitcoin and its competitors can meet the growing need. ”
The founder of Bridgewater remarked: “It seems to me that bitcoin has managed to cross the border, as it is a very speculative idea that could be good, and that it is likely to have some value in the future. have.”
He added: “I really admire how bitcoin has stood the test of ten years, not only in this regard, but also how its technology has worked so well and has not been hacked.” Nevertheless, the Bridgewater CEO warned that those who ‘own digital / cyber assets at a time when cybercrime is much more powerful than cyber defense, the cyber risk is a risk I can not ignore.’
Finally, Dalio said that bitcoin seems to him “like a long-term option in a very unknown future in which I can bring in an amount of money, and that I do not mind losing about 80% of it.” He concluded: ‘This is what bitcoin looks like for this non-expert. I am eager to be corrected and to learn more, ”explains:
Believe me when I tell you that I and my colleagues at Bridgewater focus intensively on alternative stocks of wealth assets.
Dalio further revealed: ‘Expect Bridgewater to soon offer an alt-cash fund and a stockpile of welfare funds to better deal with the devaluation of money and credit, which we see as a major risk and opportunity, and bitcoin will not escape not. we investigate. The head of Bridgewater explained that when he uses the word ‘bitcoin’, he means ‘bitcoin and its similar competitors’.
Dalio recently talked more about bitcoin. In November, he admitted that he may be wrong about the cryptocurrency, but still doubts. In December, he said bitcoin could be an alternative stock of wealth as gold.
What do you think of Ray Dalio’s view of bitcoin? Let us know in the comments below.
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