Dalio Announces He Would Rather Own BTC than a Bond
https://www.moneycontrol.com/news/business/cryptocurrency/ray-dalio-says-id-rather-have-bitcoin-than-a-bond-reveals-he-holds-cryptocurrency-6934371.html
American billionaire and world's top fund manager Ray Dalio backed Bitcoin over the dollar, which he said was on the verge of devaluing on a level last seen in 1971.
Dalio, the co-chief investment officer of the world's largest hedge fund, Bridgewater Associates, told Coindesk in an interview that he'd rather have bitcoins than a bond in an inflationary scenario.
"The more we create savings in (bitcoin), the more you might say, ‘I’d rather have bitcoin than the bond.’ Personally, I’d rather have bitcoin than a bond. And then the more that happens, then it goes into bitcoin and it doesn’t go into credit, then (governments) lose control of that.”
According to Dalio, China is now threatening the dollar's status as a global currency, which makes Bitcoin an attractive option as a savings vehicle.
He further revealed that he holds "some" Bitcoin without mentioning the quantity or the value held in the cryptocurrency
Dalio earlier expressed scepticism in the cryptocurrency. "I don’t think digital currencies will succeed in the way people hope they would,” Dalio had said in November 2020.
However, Dalio's change in heart was seen as early as January 2021 when he noted that "Bitcoin and its competitors can fill that growing need” for an alternative store of value.
Dalio is single handedly the most important Hedge Fund manager. When Dalio speaks, serious investors listen, when Dalio invests, trillions of dollar begin to be put to work. This will mark a critical phase shift in BTC's price chart that we will look back in 5 months and say "oh yea that made sense that btc moved the way it did".
https://www.moneycontrol.com/news/business/cryptocurrency/ray-dalio-says-id-rather-have-bitcoin-than-a-bond-reveals-he-holds-cryptocurrency-6934371.html
American billionaire and world's top fund manager Ray Dalio backed Bitcoin over the dollar, which he said was on the verge of devaluing on a level last seen in 1971.
Dalio, the co-chief investment officer of the world's largest hedge fund, Bridgewater Associates, told Coindesk in an interview that he'd rather have bitcoins than a bond in an inflationary scenario.
"The more we create savings in (bitcoin), the more you might say, ‘I’d rather have bitcoin than the bond.’ Personally, I’d rather have bitcoin than a bond. And then the more that happens, then it goes into bitcoin and it doesn’t go into credit, then (governments) lose control of that.”
According to Dalio, China is now threatening the dollar's status as a global currency, which makes Bitcoin an attractive option as a savings vehicle.
He further revealed that he holds "some" Bitcoin without mentioning the quantity or the value held in the cryptocurrency
Dalio earlier expressed scepticism in the cryptocurrency. "I don’t think digital currencies will succeed in the way people hope they would,” Dalio had said in November 2020.
However, Dalio's change in heart was seen as early as January 2021 when he noted that "Bitcoin and its competitors can fill that growing need” for an alternative store of value.
Dalio is single handedly the most important Hedge Fund manager. When Dalio speaks, serious investors listen, when Dalio invests, trillions of dollar begin to be put to work. This will mark a critical phase shift in BTC's price chart that we will look back in 5 months and say "oh yea that made sense that btc moved the way it did".
Note
Total Value Locked in Bond Market ~$120 Trillion DollarsNote
Just imagine... only 1-2% of bond money flows into BTC and wider crypto caps.... There is a lot of money all of a sudden that never would have considered BTC in a million years as an investment who are now pivoting and researching how and where to buy
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.