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Bitcoin has proven itself, says billionaire Ray Dalio

                                                            Ray Dalio – ein prominenter Investor und Gründer von Bridgewater Associates – glaubt, dass die Menschheit in eine Ära eintritt, in der es einen Geldwettbewerb geben wird und Bitcoin Teil dieses Wettbewerbs sein wird.  Die primäre Cryptowährung sei auch eine Alternative zu Gold, fügte der Milliardär hinzu.

“Bitcoin has proven itself”

The 72-year-old American hasn’t always been such an advocate for the leading digital asset. In early 2020 he said that Bitcoin does not serve the purpose of money and that “you cannot go wrong because of its volatility”.

However, the COVID-19 pandemic and mass pressures from fiat currencies began to change Dalio’s stance on the asset. In January of this year, he expressed his admiration for it, stating that its longevity was “an amazing achievement”. A few months later, the investor admitted to having invested a relatively small portion of his assets in BTC.

In a recent interview with Lex Fridman, Dalio reiterated his support for Bitcoin. He stated that the reason he has changed his mind over the years is because of the asset’s evolution:

“It has proven itself. It hasn’t been hacked, it has proven itself in amazing ways over these 11 years and is probably the most exciting topic for a lot of people. It was used and now has the status of an eigenvalue. “

The billionaire suggested that the huge amount of fiat currencies in circulation caused by the controversial policies of some governments will rebuild the global financial system. Bitcoin will be part of this revolution as it is “alternative money,” he added.

At the same time, BTC could also be viewed as a substitute for gold as it serves as a medium of exchange, is portable, and is recognized worldwide. However, the precious metal is still Dalio’s most popular investment vehicle:

“Gold is still my favorite because of certain qualities. For example, you cannot trace it. And of course gold has been widely recognized as a source of money for many millennia. “
Ray Dalio, CNBC

Dalio also went into Dogecoin and NFTs, saying the latter could eventually become some kind of money. “You own it, and it’s an investment, and you could say, I’d rather have it than Bitcoin,” explained Dalio. According to him, non-fungible tokens are real, but like all developments in their early days, they take time to settle down and be noticed by society.

The founder of Bridgewater Associates admitted he hadn’t bought any NFTs. At the same time, he announced that he would like to buy and even mint some of them to see how they work.

Dalio then gave his two cents for Elon Musk’s idea of ​​sending Dogecoin to the moon and making the memecoin a reserve currency there and on Mars. While admitting that he respects Tesla’s CEO, he joked about these particular visions:

“My reaction is, ‘This is cute.’ I have a lot of respect for Elon’s ability to do other things behind it, so I would take that as a symbol and ask him what’s next. “

Selected image courtesy of The Guardian

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Source: Crypto News Deutsch

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