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CEO Of World's Largest Hedge Fund Says Bitcoin Will Be Outlawed By Governments
Summary: Billionaire investor Ray Dalio argued that Bitcoin is not a good investment because governments will outlaw it and that it is too volatile in a recent interview with Yahoo Finance. He outlined that Bitcoin does not work as an effective medium of exchange, store of wealth and is not easily controlled by governments which will cause ...
Billionaire investor Ray Dalio argued that Bitcoin is not a good investment because governments will outlaw it and that it is too volatile in a recent interview with Yahoo Finance.
He outlined that Bitcoin does not work as an effective medium of exchange, store of wealth and is not easily controlled by governments which will cause regulatory concerns. Individuals holding Bitcoin cannot yet spend the cryptocurrency on everyday goods and its volatility makes it an ineffective means for storing wealth, Dalio said. Additionally, governments will soon outlaw Bitcoin in Dalio's opinion.
While slighting cryptocurrencies, Dalio expressed confidence that the world will increasingly begin turning to central bank digital currencies. Dalio runs the world's largest hedge fund, Bridgewater Associates.
By Emily Mason
Tags: Bitcoin,Bridgewater Associates,BTC,Ray Dalio
Link: CEO Of World's Largest Hedge Fund Says Bitcoin Will Be Outlawed By Governments [Copy]
