Billionaire Ray Dalio Predicts Regulators ‘Will Kill Bitcoin If It Really Succeeds’

Billionaire Ray Dalio Predicts Regulators ‘Will Kill Bitcoin If It Really Succeeds’


September 15, 2021 16:45 GMT

The investor believes that the authorities have the tools to control the world’s most famous cryptocurrency. Although he understands that this is a good alternative to cash.

American investor and billionaire Ray Dalio predicts that financial regulators around the world will end up controlling bitcoin, causing its subsequent destruction, if the cryptocurrency is used by large masses globally.

“I think that at last, if it is really successful, [los reguladores] The financier said in conversation With CNBC’s “Squawk Box” program, which aired on Wednesday. “They will try to kill him,” he added. I think they will kill him because they have the means to kill him“.

“You have El Salvador embracing it and India and China got rid of it. The United States talked about organizing it and [el bitcóin] It can still be controlled.”

On the other hand, the billionaire pointed out that there is no intrinsic value to the world’s most popular virtual currency, noting that this Lacks basic and objective value.

“There are a lot of things, from a historical perspective, that have no intrinsic value, but have perceived value. And then they have had their ups and downs. It could be either way. They just have to know what it is. It can happen as with Tulips in Holland”.

However, Ray Dalio described electronic assets as a more convenient option than cash. He even acknowledged that bitcoin is part – albeit in much smaller proportions than gold – of his investment portfolio.

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“I think all alternatives to cash are worth considering, as well as all other alternatives to financial assets. Bitcoin is a possibility. I have a certain amount of money in bitcoinsHe admitted, and added, “It’s a great achievement to bring it from where that programming occurred to where it is, through the test of time.”

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