In an interview with
Yahoo Finance, Ray Dalio talks about the high probability of a ban on BTC in the United States, referring to the actions of the authorities to confiscate gold during the Great Depression. Then the Gold Reserve Act of 1934 was passed, which prohibited the possession of gold by private individuals. Thus, the government excluded the possibility of gold competing with cash and credit.
Could something similar happen to bitcoin, which has surged amid high debt levels, low interest rates, and investors looking for alternatives to bonds and currencies. At the time of this writing, the price of bitcoin was around $56,559. 98, rising sharply after Elon Musk tweeted that you can use it to buy Teslas. He also added that the Indian government is already considering the possibility of introducing a ban on bitcoin and other cryptocurrencies.
"Every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing, because things can get out of control. So I think that it would be very likely that you will have it under a certain set of circumstances outlawed the way gold was outlawed"
Dalio says, referring to people close to government circles, that perhaps the supervisory authorities can understand and determine who exactly owns this wallet and he is not sure about the full protection of privacy in bitcoin, specifying that he is not an expert in this matter. At the same time, he states the obvious advantages of bitcoin, it is resistant to hacking, attracting a huge number of followers around the world and using bitcoin as a means of accumulating wealth.