Ray Dalio discusses his personal investment in Bitcoin

Ray Dalio, founder of Bridgewater Associates, has invested in Bitcoin as the U.S. dollar loses value, creating attractive conditions for investments in cryptocurrency. The billionaire said this at the Consensus online conference.

Concerns about a looming global debt crisis have taken the world’s top hedge fund manager from doubting bitcoin to dabbling in it.@lvlewitinn previews @mjcasey‘s #Consensus2021 keynote chat with @RayDalio
With correct link this timehttps://t.co/Y5ZdyPFofU

— CoinDesk (@CoinDesk) May 24, 2021

Dalio noted that in an inflationary scenario for preserving wealth, he would prefer to use digital gold rather than bonds. He also warned that state regulators could take harsh measures against cryptocurrencies and their holders.

“The greatest risk to Bitcoin is its success,” the investor added.

Dalio has repeatedly changed his stance on digital assets. In 2017 he called the first cryptocurrency a bubble, but acknowledged its viability “at a conceptual level”.

In November, Dalio added that the asset will never be able to replace gold, because monetary authorities will choke it.

In December of the same year, the founder of Bridgewater Associates changed his mind, describing Bitcoin as “an interesting” alternative to gold.

As reported in January 2021, Dalio said he would consider investing in the first cryptocurrency. He called the asset “a damn good invention”.

In March, the billionaire stated a high likelihood of a ban on Bitcoin in the United States.

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