Bridgewater Associates boss Ray Dalio said he feels neither bearish nor bullish on Bitcoin (BTC).
During a recent podcast, Bridgewater Associates founder Ray Dalio explained that he is neither an angry bull nor a bear when it comes to Bitcoin. The American billionaire changed his stance on the world’s largest cryptocurrency last year, announcing that he was holding some Bitcoin in May.
Dalio, who remains a big advocate of diversification, said that competing in markets is more difficult than competing in the Olympics:
“There are a lot of people trying to do this and putting more resources behind them. ”
Many members of the crypto community saw Dalio’s new book on the changing world order as a 550-page advertisement for Bitcoin. Dalio says that both bigots and “thoughtful” people are part of the Bitcoin community.
Key Risks Faced by Bitcoin
Dalio reiterated that he was impressed by Bitcoin’s ability to stand the test of time intact. But he warned of some of the risks Bitcoin faces. First of all, he believes that a new alternative may emerge, as everything eventually wears out due to the nature of evolution. He predicts that more money could flow into NFTs and other cryptocurrencies for diversification purposes.
The head of the world’s largest hedge fund warned once again that governments could ban Bitcoin just as they used to ban gold and silver:
“Once you have an alternative currency, it is a threat to any government. Every government wants a monopoly in its own currency. ”
