Ray Dalio, the billionaire founder of Bridgewater Associates, just revealed his ownership of Bitcoin at a virtual currency webinar, hosted by CoinDesk.
Bridgewater Associates is the world’s largest hedge fund, managing $140 billion in assets. The founder of this fund, billionaire Ray Dalio has repeatedly expressed interest in the future of Bitcoin and said that this virtual currency also has the same fate as gold in the US in the 30s of the last century.
Now, during an ongoing virtual currency conference, Ray Dalio said that he is holding some Bitcoin. “Bitcoin’s biggest risk is its success,” he said, adding that the more successful Bitcoin is, the more dangerous it is because of the risk of being blocked by governments.
“The more Bitcoin savings are created, the more one can say I would rather have Bitcoin than government bonds. Personally, I’d rather have Bitcoin than bonds. And when that happens more, when the money goes into Bitcoin instead of going into credit, the government will lose control of it,” the 72-year-old billionaire commented.
In March, Ray Dalio warned that the US government could ban Bitcoin, as it did with gold in the 1930s, if virtual currency became a threat to government bonds.
Although it can be blocked by countries with a unanimous mind, Ray Dalio believes that Bitcoin still has a way to survive. Ultimately, he says the world is changing very quickly and whatever wins the technology race, it will take over everything from economic to military. “That will be the future five years from now,” he concluded.
Thanks to the recent good news, the crypto market is currently recovering slightly. As of the morning of May 26, Bitcoin was worth $39,000 with a market capitalization of nearly $1.7 trillion.