{"id":10676,"date":"2021-08-09T00:54:07","date_gmt":"2021-08-09T00:54:07","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/billionaire-hedge-fund-manager-ray-dalio-still-concerned-government-could-outlaw-cryptocurrency\/"},"modified":"2021-08-09T00:54:07","modified_gmt":"2021-08-09T00:54:07","slug":"billionaire-hedge-fund-manager-ray-dalio-still-concerned-government-could-outlaw-cryptocurrency","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/billionaire-hedge-fund-manager-ray-dalio-still-concerned-government-could-outlaw-cryptocurrency\/","title":{"rendered":"Billionaire Hedge Fund Manager Ray Dalio Still Concerned Government Could Outlaw Cryptocurrency"},"content":{"rendered":"

The founder of the world\u2019s largest hedge fund, Bridgewater Associates, is still concerned that governments could outlaw cryptocurrencies. Nonetheless, he sees bitcoin as digital gold and owns some for diversification.<\/strong><\/p>\n

Ray Dalio Worried About Government Outlawing Cryptocurrencies<\/h2>\n

Bridgewater Associates founder Ray Dalio is still concerned that governments may outlaw cryptocurrency. Dalio now serves as the firm\u2019s chairman and co-chief investment officer. Bridgewater Associates\u2019 clients include endowments, governments, foundations, pensions, and sovereign wealth funds.<\/p>\n

Dalio voiced his concern in an interview with CNBC last week, stating that there is \u201ca reasonable chance\u201d that cryptocurrencies, including bitcoin, could eventually be outlawed by the federal government.<\/p>\n

He pointed to the time when President Franklin D. Roosevelt signed the Gold Reserve Act in 1934, transferring all of the country\u2019s privately held gold titles and certificates to the U.S. Treasury as an example. The executive previously explained that any major economic downturn or inflationary event could prompt governments to take similar action on bitcoin and other cryptocurrencies.<\/p>\n

The 72-year-old billionaire to CNBC last week: \u201cI own a very small amount of bitcoin. I\u2019m not a big owner.\u201d He added:<\/p>\n

There are certain assets that you want to own to diversify the portfolio, and bitcoin is something like a digital gold.<\/p>\n

\u201cI just think of it as diversification. By and large, I don\u2019t really know whether bitcoin is going to go up or down. I could argue both sides of that,\u201d he admitted.<\/p>\n

<\/p>\n

The Bridgewater Associates executive explained that it is important to continually reevaluate the investments and avoid buying assets that perform well for a short period of time. \u201cBe careful about what you\u2019re putting your money in\u2060,\u201d he said, elaborating: \u201cMake the diversification global, not just in the United States.\u201d<\/p>\n

While seeing bitcoin as a digital version of gold and a hedge against inflation, Dalio still prefers gold, citing the metal\u2019s longer history of being a \u201cstorehold of wealth.\u201d He said: \u201cIf you put a gun to my head, and you said, \u2018I can only have one.\u2019 I would choose gold.\u201d<\/p>\n

Dalio\u2019s crypto ban concern is getting less and less realistic over time, however, as cryptocurrency adoption increases globally. Last week, the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, said that Satoshi Nakamoto\u2019s \u201cinnovation is real<\/a>.\u201d A growing number of the world\u2019s largest investment banks are also getting into crypto, including JPMorgan<\/a>, Goldman Sachs, Citigroup, and Morgan Stanley. In addition, companies are hiring more people to work on crypto projects, including Amazon, Fidelity, and Paypal<\/a>.<\/p>\n

What do you think about Ray Dalio\u2019s concern? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, bridgewater associates, government outlaw bitcoin, government outlaw cryptocurrency, Ray Dalio, Ray Dalio bitcoin, Ray Dalio crypto, Ray Dalio cryptocurrency<\/p>\n","protected":false},"excerpt":{"rendered":"

The founder of the world\u2019s largest hedge fund, Bridgewater Associates, is still concerned that governments could outlaw cryptocurrencies. Nonetheless, he sees bitcoin as digital gold and owns some for diversification. Ray Dalio Worried About Government Outlawing Cryptocurrencies Bridgewater Associates founder Ray Dalio is still concerned that governments may outlaw cryptocurrency. Dalio now serves as the…<\/p>\n","protected":false},"author":0,"featured_media":10677,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10676"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10676"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10677"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}