Ray Dalio has bought bitcoin
Ray Dalio owns bitcoin. He revealed it himself.
The founder of Bridgewater Associates said it at the Consensus organized by Coindesk.
In the interview he admitted:
“Personally, I’d rather have bitcoin than a bond”.
To later add:
“I have some bitcoin”.
It has to be said that the interview was recorded on 6 May. Therefore, it is not known whether Ray Dalio still has bitcoin or whether he is one of those who participated in the sell-off these days, which caused the price of cryptocurrencies to fall. Nor is it known how much he owns, or whether he bought in a moment of hype or beforehand.
However, in the interview, the founder of Bridgewater Associates, one of the world’s largest hedge funds, also expressed his concerns about a scenario in which inflation could drastically reduce the value of the dollar.
These few words confirm his philosophy: no bonds and, even so, diversify the portfolio to protect against risks.
Ray Dalio and fears about bitcoin
Ray Dalio has always been very sceptical towards Bitcoin. In particular, he has repeatedly feared that governments will sooner or later somehow ban the use of Bitcoin. His hostility in fact is not related to volatility but precisely to the fear that too stringent regulation would make bitcoin de facto illegal, which could lead to its collapse in value. His position has always been more about uncertainty rather than opposition.
In fact, his fears have been confirmed by what has happened in recent days: all it took was for China to declare a new ban on the use of bitcoin as a payment system, and to prevent financial institutions from offering services in bitcoin, to cause the price of BTC to plummet and drastically lower the value of the most highly capitalized cryptocurrencies.
However, if what happened is still one of the most important corrections in the history of bitcoin, it must also be said that the price is recovering and today alone is +12%, and is back at the threshold of $38,000 after touching $30,000 in recent days.
In short, bitcoin is proving to be strong, just enough to convince even Ray Dalio to become a bitcoin holder.