After Goldman Sachs and BlackRock, the CEO of Bridgewater is now also commenting on the crypto phenomenon. The surprise: Ray Dalio comes out as a Bitcoin enthusiast.
Ray Dalio is turning around with Bitcoin. The CEO of the hedge fund Bridgewater Associates described BTC as a „damn good invention.“
In a detailed memo, he pleaded for a differentiated view of the crypto phenomenon. He did not rule out crypto investments as a hedge against the depreciation of fiat currencies.
Bridgewater is the world’s largest hedge fund and Dalio is also highly regarded in the financial world. His assessment therefore has weight. The matter is all the more explosive because Dalio still last November as a Bitcoin Supreme opponents occurred was. In view of the enormous price gains, Dalio rowed back a few days later, however, he wanted to be taught better by Twitter.
His memo, which he had initially come clients and on 28 January published , showing a marked change of heart. Because Dalio described BTC as an “alternative gold-like asset that is urgently needed in the current market situation.” Such a statement by Dalio, who is considered a prominent advocate of gold investments, is almost equivalent to an accolade.
Bitcoin „will probably be valuable“
Dalio also sums up that Bitcoin has the potential to become a future-proof store of value. On the one hand, this depends on the actual application possibilities of the largest cryptocurrency. In addition, the relationship between BTC and the other crypto assets must also be explored. After all, it is conceivable that a technically superior coin will push Bitcoin from the throne one day.