Billionaire investor Ray Dalio had warned about how future governments will deal with Bitcoin
Billionaire investor Ray Dalio said Bitcoin isn’t a good investment because governments will make it illegal, according to an interview with Yahoo Finance on November 7.
Ray Dalio, the founder and co-chairman of Bridgewater Associates.
Dalio compared bitcoin to gold in that gold was once scrutinized by governments for its use as a store of wealth, but he doesn’t see bitcoin replacing gold.
“I wouldn’t prefer bitcoin to gold,” he said. “Gold will be the vehicle that central banks and countries use as an alternative to cash.”
He then added that governments will eventually “outlaw” Bitcoin.
“And they’ll (governments) use whatever teeth they have to enforce that, they’ll say you can’t transact a Bitcoin, you can’t have it,” he said. “Then you’d have to be like, is it a felony, am I gonna be a felon? They outlawed gold.”
Dalio, who runs the world’s biggest hedge fund, Bridgewater Associates also said he instead expects the world to increasingly turn to central bank digital currencies—such as a digitalized US dollar, euro or renminbi.
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