Yugocean
Valued Contributor
American billionaire investor and hedge fund manager Ray Dalio, who was once a vocal opponent of bitcoin, has now changed his mind.
Because of its extreme volatility, Ray Dalio used to believe bitcoin was unsuitable as a store of value. On May 24, 2022, he admitted to owning bitcoin in his portfolio. This has increased the enthusiasm of bitcoin supporters who believe in him too.
Despite admitting that he is not an expert on bitcoin, Dalio has described it as a "alternative to gold", appreciating Bitcoin's finite quantity, borderless popularity, and only being concerned about governments outlawing it, moreover he even called cash and equity as "trash" and "trashier"; he appears to have been influenced by bitcoin.
Dalio has predicted a similar situation like to the 1970s, (the 1970s is remembered as the decade of economic and political upheaval in American history.) To avoid this, Dalio recommended people to invest in inflation-hedging assets while simultaneously praising bitcoin indicates he is arguing people to buy Bitcoin.
Because of its extreme volatility, Ray Dalio used to believe bitcoin was unsuitable as a store of value. On May 24, 2022, he admitted to owning bitcoin in his portfolio. This has increased the enthusiasm of bitcoin supporters who believe in him too.
Despite admitting that he is not an expert on bitcoin, Dalio has described it as a "alternative to gold", appreciating Bitcoin's finite quantity, borderless popularity, and only being concerned about governments outlawing it, moreover he even called cash and equity as "trash" and "trashier"; he appears to have been influenced by bitcoin.
Dalio has predicted a similar situation like to the 1970s, (the 1970s is remembered as the decade of economic and political upheaval in American history.) To avoid this, Dalio recommended people to invest in inflation-hedging assets while simultaneously praising bitcoin indicates he is arguing people to buy Bitcoin.
