Ray Dalio, the creator of the world’s largest hedge fund Bridgewater Associates think Bitcoin would have a comparable impact as gold in the 1930s. Dalio suggested that just like the 30s when people started purchasing gold as the return on bonds and cash lessened due to the war.
Bitcoin today is bring in comparable investment enthusiasm from all corners of the monetary world, and Dalio believes the government’s conservative technique would only help its cause. Dalio explained,
Back in the ’30s in the war years … … since money and bonds were such bad financial investments relative to other things, there was the movement to those other things, and then the government outlawed them. They disallowed gold.
That’s why also forbiding bitcoin is a good possibility.
Dalio recommended that every nation wants to have total control over supply/demand for currency in the market, thus a decentralized property with limited supply certainly poses a threat for the sovereignty that this federal government holds.
Bitcoin is the new Alternate Store of Wealth: Dalio
Bitcoin this bull season has turned some of its most hesitant critics into a believer as its cost taped a new ATH of $61,683 and is anticipated to top $100,000 by the end of the year.
The latest thing pandemic that started in 2015 altered the world in numerous ways, and in these struggling times, financiers and traders were trying to find a store of worth as USD value, gold along federal government bond returns lessened. Bitcoin emerged as the growing and alternative store of value as Fortune 500 companies such as MicroStrategy and Tesla began using it as a Treasury Reserve Asset while billion-dollar wealth funds began buying it for much better returns.
Dalio believes Bitcoin for many years has shown its worth as a brand-new shop of worth over gold with much better functionalities.
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