Ray Dalio believes in Bitcoin: In an interview, the legendary hedge fund manager once again emphasized that BTC should be taken seriously.
Ray Dalio sees Bitcoin as an “alternative currency”. The manager of the world’s largest hedge fund Bridgewater Associates made this assessment in an interview with CNBC on May 31st.
According to Dalio, alternative currencies should also be differentiated from the digital variants of conventional currencies. Bitcoin is therefore something different from the digital yuan.
As for the Chinese central bank digital currency, Dalio believes it could compete with the established cryptocurrencies. However, he rules out that the e-yuan will dominate the entire market. As a disadvantage, he pointed out to CNBC difficulties with privacy in the state digital currency. However, Dalio considers a possible digital dollar to be less competitive than its Chinese counterpart.
Dalio is a bitcoin trader
That Dalio calls Bitcoin a serious alternative currency is not surprising in view of the latest developments. Because the influential investor only admitted a few days ago that he owned some BTC himself.
In fact, at the beginning of the year, Dalio began to rethink, which is probably related to the Bitcoin price rally at the time. Last November, he still took the view that Bitcoin could not be used as a currency due to its volatility.