Ray Dalio, the founder of Bridgewater Associates and a famed investor stated that he owns bitcoin, just as Max Keiser predicted six months ago.
He is a well-known billionaire hedge fund manager, confessed to having some Bitcoin today expressing his belief that the cryptocurrency can serve as the finest store of wealth in an inflationary world.
Dalio has warmed up to the concept of Bitcoin as a store of wealth as result of recent inflationary concerns and monetary policy stances declared by the US government and is beginning to hold it in higher regard than certain traditional vehicles such as government bonds.
Risk of Bitcoin in its success
Bitcoin’s greatest risk is its success, Dalio claims. Bitcoin will begin to be viewed as a legitimate threat to authority as it grows in popularity as a valid alternative store of value, outside of both the hands and eyes of the government.
The fact that people can rapidly and readily convert money into crypto utilizing centralized exchanges is essential to the cryptocurrency ecosystem. Governments might easily prohibit these exchanges from operating, stripping cryptocurrencies of a significant amount of value and function.
The economy is recovering from the pandemic after a lengthy period of subdued demand, bringing with it the challenge of severe supply shortages. Continuous price rises are sweeping the world with the United States seeing its highest inflation rate since 2008. Investors with big cash reserves or government bonds should be cautious, as their nominal purchasing power will quickly decline during a period of strong inflation.
In an inflationary environment like the one we’re in right now, Ray Dalio, like the majority of the cryptocurrency community believes that Bitcoin will surpass bonds. If demand remains stable, a fall in supply will inevitably result in a price increase. Dalio believes that international funds, particularly in Norway and Qatar, would announce ‘big positions’ in Bitcoin soon, according to Max Kaiser, host of the Keiser Report.
Failure to do so, he says, would be a violation of their fiduciary responsibilities, and that the “new Bitcoin paradigm and reality” will quickly spread throughout the global fund management industry and in two years, he expects BTC to reach a price of above $500,000.
The greater Bitcoin’s success as an investment vehicle grows, the more of a target it becomes for world governments seeking to maintain control over money.
The post Ray Dalio Confirms He Has 6 BTC Proving Max Keiser’s Prediction Right appeared first on Ripple Coin News.
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Author: Gracie Perez