Billionaire Ray Dalio ‘impressed’ how Bitcoin survived the last decade

Ray Dalio, a billionaire, expressed another positive sentiment by saying that he was impressed with crypto and considered cash to be “the worst investment”

Yahoo! Finance interviewed Bridgewater Associates founder, Jeffery. In an interview with Yahoo! Finance on December 17, Bridgewater Associates founder said that it was “impressive” that crypto has lasted for ten years without being hacked.

“It’s amazing that the programming has held up for the past 10-11 years,” Dalio said. Dalio stated that it has not been hacked and has a high adoption rate.

Dalio also said that he had some Bitcoin (BTC), Ether (ETH), but when Dalio was asked how much he has, he replied that he doesn’t have a lot. “I’m very big diversification, and that’s a very small portion of my portfolio.”

Many holders were alarmed by Ray Dalio’s 2020 criticisms of crypto volatility and lackluster buyer protection. He said that Bitcoin was “not very well as a store-hold for wealth.” But, Ray Dalio did a 180 and called Bitcoin “one helluva invention”.

Dalio clarified in a January 2021 essay that both crypto supporters and opponents see the same thing from different perspectives. He stated that he understood that Bitcoin has pros and cons.

Related: Senate hearing about stablecoins: Compliance anxiety, Republican pushback

The billionaire fund manager continued to say that crypto was “an alternative money in an environment that the value of cash money has been depreciating in real terms”. He also said that he still believes that “cash” is garbage, as he stated in past interviews.

“Cash”, which investors believe is the best investment, is actually the most dangerous investment.

The answers of the billionaire are more positive than his statements back in August that the United States might ban Bitcoin. He also stated that he would prefer gold to bitcoin. This was called FUD by the community.

Dalio declared that Bitcoin could be outlawed in the same way that gold was outlawed under certain circumstances on March 25th. This could also be true for Bitcoin, he said. Dalio stated that the government did not want gold to compete against fiat during those times because it could cause “out of control” situations.

https://cointelegraph.com/news/billionaire-ray-dalio-impressed-how-bitcoin-survived-the-last-decade