Ray Dalio softens his stance towards leading cryptocurrency Bitcoin

Billionaire Ray Dalio has long been a critic of bitcoin, however, he has changed his perception towards the leading cryptocurrency.

By · Dec 11, 2020 . 6min read

Ray Dalio on Bitcoin latest news

The famous investor and founder of hedge fund giant Bridgewater Associates, Ray Dalio, has long been critical of Bitcoin though it appears that his attitude may have changed over time. He proposed that bitcoin (BTC), the world’s leading crypto, bitcoin (BTC), maybe a great asset for expanding their portfolio. Ray Dalio has apparently softened his stance on Bitcoin, identifying it as a choice against gold through his latest AMA (“Ask Me Anything”) session on Reddit.

In an Ask Me Anything Reddit post, Dalio offered insights on what made up a great investment portfolio. Thus, it appears as though his opinions on crypto, essentially Bitcoin (BTC), may have softened. He now states that Bitcoin may be a prominent alternative to gold. Moreover, the billionaire investor has long been a supporter of gold. In Dalio’s judgment, it’s essential for a person to have diversified, mobile, limited-supplied, store holds-of-wealth diversifiers as a component of their portfolio.

Ray Dalio comments on China’s Leadership and U.S. economy

This AMA occurs in the circumstances of socio-economic and geopolitical models of history and the information they may scatter on the recent situation. This includes large national debts, big wealth and political gaps, and new world power emergence. He expressed his views on Bitcoin. He also expressed why he dotes China’s leadership, concerns over the US economy, and the prospect of jobs.

Ray Dalio’s remarks show variation from a month ago. Earlier, he stated there are three main difficulties with bitcoin and other cryptocurrencies. He described them as the absence of venue holding digital assets as payment, price volatility, and governments’ potential to outlaw them. Dalio also stated that he has a definite preference for assets that central banks will aspire to operate and handle for exchange value when connecting bitcoin to gold. 

Ray Dalio is not the only billionaire who has softened his stance towards Bitcoin. The CEO of the world’s biggest asset management firm BlackRock, Larry Fink, criticized Bitcoin over the years. Additionally, in October 2017, Fink explained bitcoin as a vehicle for money laundering. In 2018, he declared that the government would not allow managing such assets. However, recently he shared his opinion on bitcoin. Moreover, he revealed his interest in the future of Bitcoin and other cryptos. Larry Fink explains the potential of BTC and the cryptocurrency sector to expand into a mainstream marketplace. 

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