Ray Dalio, a billionaire hedge fund supervisor and founding father of Bridgewater Associates, stated right now that he owns some Bitcoin. The announcement got here throughout CoinDesk’s Consensus occasion.
Based on Dalio, the U.S. greenback is being devalued, giving rise to an atmosphere that makes Bitcoin way more interesting. “I’ve some Bitcoin,” Dalio introduced throughout an interview which was filmed on Might 6.
Dalio isn’t the one billionaire to show bullish on Bitcoin. Others like Stanley Druckenmiller have been pro-Bitcoin for a number of months now. Again in November of final 12 months, Druckenmiller stated Bitcoin may have a variety of enchantment as a retailer of worth.
Throughout the identical month, Dalio steered that governments may “outlaw” Bitcoin and that this is able to cap its promise as an asset. In different phrases, Dalio has had some evolving opinions in regards to the flagship cryptocurrency.
A month later, Dalio’s stance softened considerably as he described Bitcoin as an “attention-grabbing” various to gold.
In January of this 12 months, two months after suggesting that governments may outlaw Bitcoin, he described the asset as “one hell of an invention,” and that Bitcoin wouldn’t escape Bridgewater’s scrutiny as a possible asset.
At present, Bitcoin stays mired in a big value crash, following Elon Musk’s u-turn on the cryptocurrency and three main fee establishments in China backing the federal government’s ban on crypto. Presently priced at $37,000, Bitcoin is down 18% within the final week, and 35% within the final two weeks.
Constructive indicators are rising, nonetheless, as Bitcoin stays up by 14% within the final 24 hours.
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