September 30, 2022

Billionaire Investor Ray Dalio: Crypto Gets Too Much Attention

2 min read

Amid rising interest in cryptocurrencies, the famous American investor and founder of the investment management firm Bridgewater Associates, Ray Dalio, opined that the crypto industry is receiving way too much attention.

Excessive Attention on Crypto

During his latest interview on “The David Rubenstein Show: Peer-to-Peer Conversations,” Dalio claimed that he has just a “small” amount of crypto in his financial investment portfolio.

Remember that earlier in May 2021, the billionaire financier validated that he owns bitcoin following several inflationary concerns and monetary policy positions undertaken by the US federal government.

Dalio explained, then, that he believes Bitcoin will prove to be a better hedge versus the disastrous effects of inflation than government bonds.

The hedge fund manager kept in mind that it is pointless to hold money as genuine rates of interest continue to turn on the negative side, with financiers anticipating yearly returns of 4%.

In a previous interview, Dalio specified that it would be affordable for every investor to designate approximately 2% of their portfolios in Bitcoin.

Raymond Dalio

Ray Dalio. Source: CNBC Bitcoin Has Proven Itself Dalio has not always been a Bitcoin advocate. In reality, he was one of the greatest crypto critics, blasting digital currencies for their severe volatility and even calling Bitcoin a huge bubble.

Nevertheless, he recently softened his stance on cryptocurrencies and bought the main digital possession. Earlier in December 2021, Dalio specified that Bitcoin had shown itself.

“It has proven itself. It has actually not been hacked, it has actually run in an amazing method over that 11 years to be probably the most amazing topic among a great deal of people. It has been utilized and is now acquired the status of having imputed worth.”

Still, in spite of praising Bitcoin’s success story, the famous investor forecasted that its success could also be its failure as governments might attempt to “eliminate” it.

Dalio revealed that if Bitcoin’s mainstream adoption continues at the breakneck speed, it is presently going, regulators and federal government will stop it since they “have methods of killing it.”