Bridgewater Associates co-founder and chief investment officer, Ray Dalio, says there is a good possibility that the government will ban bitcoins in the same way that gold was banned in the United States in the 1930s.
Ray Dalio believes that governments can ban Bitcoin
Ray Dalio shared his view on whether the government could ban Bitcoin in an interview with Yahoo Finance on Wednesday. He is the co-founder and chief investment officer of Bridgewater Associates, the world’s largest hedge fund company. Its clients include endowments, governments, corporations, pensions, and sovereign wealth funds.
Dalio believes that Bitcoin may face a similar fate to gold in the US during the 1930s. “As was the case in the 1930s of the war years … money and bonds were bad investments for other things, and there was movement for those other things, then the government banned them … and they banned gold,” he recalls, explaining:
That’s why blocking Bitcoins is also a good possibility.
Besides the gold ban, Dalio added that they “also put in place foreign exchange controls, because they don’t want the money to go elsewhere.”
Emphasizing that “every country values its monopoly on controlling supply and demand. They don’t want other money to work or compete, because things can get out of control,” the Bridgewater founder said:
So I think it’s very likely that, under a certain set of circumstances, you have the way gold has been banned.
“You see this question that arises in India today. He pointed out that India is taking a step today to ban it and criminalize its possession. The Indian government is currently working on a file.” Cryptocurrency bill And there have been reports of this possibly happening Blocking cryptocurrencies Like Bitcoin. However, no official announcement has been made and the crypto industry hopes there will be no outright ban on cryptocurrencies.
Dalio was also asked specifically if he thinks it is possible for the government to block Bitcoin. He replied, “What I understood from people who are some kind of government watch and so on, is, yeah, they can understand, they can track it, they can see who’s dealing with it. I don’t know – like, I’m not an expert in that.”
A billionaire hedge fund manager has been learning about Bitcoin in recent months. He admitted in November that he might be wrong about Bitcoin but was worried about governments a ban Cryptocurrency. Then he said that Bitcoin “is one of the inventions of Hell” that could serve as a To diversify To gold and other wealth assets possession. “
In response to Dalio’s erroneous views, Bitcoin clients have turned to social media to argue over the government’s ability to block Bitcoin. Gemini co-founder Cameron Winklevos wrote: “Bitcoin may have similar properties to gold, but blocking decentralized software is a much different problem. It essentially requires you to block the internet.”
Some people accuse the Bridgewater CEO of trying to manipulate the market to buy cheap coins, noting that an increasing number of major companies Investment at BTC. Goldman Sachs recently said it sees massive institutionalization the demand Regarding cryptocurrencies and Visa expects to become Bitcoin ‘Too mainstream. Deutsche Bank says Bitcoin is now The third largest currencyAfter the dollar and the euro. In addition to, Morgan Stanley He is preparing to offer Bitcoin to wealthy clients, and other banks are expected to do so To follow.
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