Cryptocurrencies are too vulnerable, easy to track, and this class of assets is likely to be banned by governments across a number of countries. This was stated by Ray Dalio, founder of Bridgewater Associates, in an interview with David Rubenstein.
According to Dalio, given the size of the cryptocurrency market, it attracts too much attention. He confirmed that digital assets constitute a negligible percentage of his personal investment portfolio.
In December 2021, the billionaire said that for diversification invested in Ethereum. He did not disclose the exact amount invested, but said it was “not very much”.
In a discussion with Rubenstein, he noted that the use of cryptocurrencies carries risks, not least those associated with blockchain transparency. The billionaire also stated that digital assets regulators would “kill” Bitcoin in the event of its mass adoption.
In the view of the head of Bridgewater Associates, people are increasingly asking what to use as a means of exchange and store of value. He stressed that fiat will face growing competition from digital currencies.
He also advised building an investment portfolio diversified across asset classes and markets. The billionaire also noted that “cash is trash”.
Earlier in September, Dalio warned that regulators would “kill” Bitcoin in the event of its mass adoption.
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