Ray Dalio's $ 100 billion fund considers investment in bitcoin

Charlie Taylor

Famous investor Ray Dalio, founder of Bridgewater Associates, a fund with more than $ 100 billion in assets under management, once a critic of bitcoin, has changed its position from previous years and now seems to show a positive outlook on digital gold, having called the BTC 'a great invention'.
The claims were made through an extensive article written by Ray that was published on Bridgewater's official website. The text presents an optimistic view about Bitcoin and, it seems, the fund is considering investment in cryptocurrency.

On the other hand, believe me when I say that me and my colleagues at Bridgewater are focusing intensely on alternative reserves of wealth assets, and Bitcoin will not escape our scrutiny.

Despite the extremely positive news, Ray made it clear that he only intends to invest in alternative assets amounts that the fund would be willing to lose most of:

Bitcoin seems like a long-term option in a highly unknown future in which I could put an amount of money that I wouldn't mind losing about 80%.

Dalio said that there is currently a need for gold-like assets so that investors can protect themselves from the devaluation of money and credit.Alter - Cryptoback

There are not many alternative gold-like assets at this time of increasing need (because of all the debt and money creations that are in progress and will happen in the future). Because of what is happening in the world, there is an increasing need for money or storage of wealth assets that are limited in supply.

Bridgewater Associates' possible entry into Bitcoin would further fuel the narrative of institutional money entering the cryptocurrency. Recently, Black Rock, a company with more than $ 8 trillion in assets under management, said it could start investing in bitcoin futures.
To a large extent, these institutional inputs can be attributed to the depreciation of the currency by governments around the world, a movement that intensified in 2020.

With most central banks in the world taking action to depreciate their currencies at a time when bond yields are already converging to zero, it is reasonable to look for alternative wealth reserves. Bitcoin, by far the leader among cryptocurrencies, has received most of the attention here …, read the note.

However, Dalio cites quantum computing and future regulations as challenges that Bitcoin will still face, and called the possibility of Bitcoin being overcome by another cryptocurrency at a risk.
Read more: $ 10 trillion could move from gold to Bitcoin, says Michael SaylorAlter - Cryptoback


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