Billionaire Ray Dalio Says He Still Owns The Crypto

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The news will undoubtedly delight fans and cryptocurrency enthusiasts.

January’s cryptocurrency market rout didn’t prompt billionaire Ray Dalio to sell his bitcoins, despite his reservations about digital currencies.

The founder and co-chief investor of Bridgewater Associates, the world’s largest hedge fund with approximately $150 billion in assets under management, confirmed in a recent episode of Bloomberg’s “The David Rubenstein Show” that he “always has a small percentage” of his wallet in crypto.

“How do you foresee crypto impacting the world order?” host David Rubenstein asked Dalio.

“I think it’s interesting,” replied the billionaire. “I have a very small percentage of it in my portfolio to diversify.”

But he added that: “It’s a very vulnerable incident because they can find out who’s operating it. It can be tracked.”

This is certainly not the first time that Dalio has said he owns crypto, but it is important to note that he confirms this after difficult weeks for the new industry, which lost more than $ 1.2 trillion between the beginning November and end of November. January due to concerns about the end of a period of easy money in the United States.

In December, Dalio told Markewatch that he owned “a bit” of bitcoin, calling it “almost the younger generation’s alternative to gold.”

“Bitcoin is like gold, although gold is the well-established alternative to fiat currency,” he said.

In early January, he insisted that it would be reasonable for every investor to allocate 1% to 2% of their portfolio to bitcoin, the most popular cryptocurrency.

Without being a great bitcoin champion, Dalio is not against cryptocurrencies either. His position would rather be between the two. He said it wasn’t “black and white”. He recognizes the merits of bitcoin, for example, and does not hesitate to express reservations. He did it again on Thursday.

He complained, for example, about the attention and headlines given to cryptocurrencies.

“In terms of size, it has issues. I think too much attention has been devoted to crypto,” he lamented.

He reiterated his previous warnings against over-regulation of the industry and possible banning of bitcoin by governments.

“It will be banned, probably by different governments,” he predicted, pointing out that digital currencies are traceable and vulnerable and are likely to be banned by governments.

On the other hand, the billionaire however predicted that traditional currencies will face increasingly tough competition from cryptocurrencies. People will wonder more about what they should use as a medium of exchange and a store of wealth, according to Dalio.

Bridgewater’s clients include governments, pension funds, sovereign wealth funds, charities and endowments.

After a black month of January, the crypto market is trying to rebound. The bitcoin goes back above the symbolic bar of 40,000 dollars but is still far from the historical record of 69,044.77 dollars reached on November 10.

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