Ray Dalio Admits He May Be Wrong About Bitcoin But Still Concerned of Government Ban?
Billionaire hedge fund manager Ray Dalio has admitted that he may be wrong about bitcoin after stating that governments will ban the cryptocurrency if it “becomes material.” Dalio founded Bridgewater Associates; his hedge fund is the largest in the world.
"I might be missing something about bitcoin so I’d love to be corrected." He quoted..
Firstly, he claimed: “Bitcoin is not very good as a medium of exchange because you can[not] buy much with it (I presume that’s because it’s too volatile for most merchants to use, but correct me if I’m wrong).”
Secondly, he asserted: “it’s not very good as a store-hold of wealth because it’s volatility is great and has little correlation with the prices of what I need to buy so owning it doesn’t protect my buying power.”
Next, he reiterated the risk of governments banning bitcoin that he outlined in an interview with Yahoo Finance last week. Dalio said that if bitcoin “becomes material, governments won’t allow it.” He emphasized: “they’ll outlaw it and they’ll use whatever teeth they have to enforce that. They would say … you can’t transact the bitcoin, you can’t have a bitcoin.”
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https://news.bitcoin.com/ray-dalio-bitcoin/What do you think about this guys?