Frightening Comment From Investor: Could Ban Bitcoin!

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Ray Dalio, founder of hedge fund firm Bridgewater Associates, says he believes governments will ban Bitcoin (BTC) if its success is too great.

In a new interview with Yahoo Finance’s Julia LaRoche, the billionaire investor explained why he preferred gold to Bitcoin and doubted governments would allow BTC to be a useful currency. Dalio used the following statements:

“If [Bitcoin] becomes material, governments won’t allow it. I mean, they’re going to ban it and use all the powers they have to enforce it. You cannot transact with Bitcoin. You cannot own a Bitcoin. Then you’ll almost think, am I a criminal? You know, they banned gold. What’s wrong with gold? Gold was a wealth of wealth. ”

Dalio explained why he preferred gold to Bitcoin with the following words:

“So if I say,” Would I prefer Bitcoin to gold? “, My answer is: I would prefer Bitcoin to gold. Because gold will be the tool central banks and countries will choose as an alternative to normal cash. ”

“I Cannot Use Bitcoin as a Payment Method”

Dalio cites potential issues with the government, as well as other problems he sees with the leading cryptocurrency. Dalio uses the following statements in this regard:

“Today, I can’t easily buy things with Bitcoin yet. As a wealth store it is so volatile that its speculative volatility is so great that it is not an effective store of wealth, and this is also one of the reasons why being a trading tool is a problem. ”

As the popularity of the digital currency increases, Dalio predicts that digital versions of fiat currencies will exclude crypto assets such as Bitcoin. “There are digital currencies, which means there will be other types of currencies, say the dollar, the euro, or the digitalized Chinese yuan,” says Dalio. I think we will see more of these types of currencies, ”he said.

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Dalio’s cautious stance on Bitcoin is different from those of billionaire investors Stanley Druckenmiller and Paul Tudor Jones, who see BTC as a digital store of value in the same arena as gold. While Druckenmiller thinks BTC may have more advantages over gold, Tudor Jones believes investing in leading cryptocurrency is like investing in tech giants Apple and Google in its early days.


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