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Billionaire Ray Dalio: Cryptocurrencies are coming into focus around the world

With interest in cryptocurrencies growing, legendary American investor and founder of investment management firm Bridgewater Associates, Ray Dalio, believes the crypto industry is getting too much attention.

Ray Dalio – CEO of Bridgewater Associates

Too much attention to cryptocurrencies

In interview Recently, in The David Rubenstein Show: Peer-to-Peer Conversations, Dalio stated that there is only a “small” amount of cryptocurrencies in his portfolio.

Citing May 2021, Dalio confirmed he owns Bitcoin after some concerns about inflation and the US government’s monetary stance.

The billionaire pointed out that bitcoin will prove to be a better hedge against the ravages of inflation than government bonds and that there is no point in holding cash when interest rates are high. Real yields continue to fall and investors are expecting one 4% annual return.

In a previous interview, Dalio was to say It would make sense for every investor to allocate up to 2% of their portfolio to Bitcoin.

Bitcoin has proven itself

Dalio wasn’t always a proponent of bitcoin. In fact, he is one of the biggest crypto critics, arguing that digital currencies are highly volatile and even calling Bitcoin a giant bubble.

Recently, however, Dalio has toned down his stance on cryptocurrencies and investing in bitcoin. In early December 2021, Dalio claimed that Bitcoin has proven itself.

“Bitcoin itself has proven itself. It has never been hacked, amazingly it has been working continuously for 11 years and is probably the most interesting topic for many people. It is already in use and has now gained regulatory validity.”

But despite the praise for Bitcoin’s track record, the billionaire investor has predicted that its success could also collapse once governments try to “kill” it.

Dalio revealed that regulators and governments will continue the mainstream adoption of Bitcoin – which is currently taking place – at a breakneck pace.

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