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Billionaire Ray Dalio: Cryptocurrency is getting a lot of attention

Billionaire Ray Dalio: Cryptocurrency is getting a lot of attention

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Answer Billionaire Ray Dalio: Cryptocurrency is getting a lot of attention

American billionaire investor and hedge fund manager Ray Dalio believes that the cryptocurrency industry is getting a lot of attention, according to his recent interview with David Rubinstein on “The Cryptocurrency Channel.”Bloomberg“.

He told Dalio that cryptocurrencies make up only a tiny part of his digital portfolio.

While crypto represents only a small portion of global financial markets, the International Monetary Fund (IMF) recently warned that the crypto market poses contagion risks due to its increased correlation with US stocks.

The tech-heavy Nasdaq has been trading alongside the crypto market lately.

The head of Bridgewater Associates stated that other assets will have to be adjusted due to higher interest rates.

Read:Tezos platform adopts investment financing (STO) for one of the largest investment banks

Dalio, who used to be an outspoken skeptic of cryptocurrency, revealed his purchase of Bitcoin last May.

Despite his purchase of Bitcoin, he did not turn into an encouraging leader of cryptocurrencies, and routinely predicted that governments could kill Bitcoin, commenting on this by saying:

I think eventually, if he’s really successful, they’ll kill him.

They will try to kill Bitcoin, and I think they will kill it because they have ways to kill it.

During his recent appearance in the aforementioned interview, Dalio thought it would be reasonable to allocate up to 2% of his wallet to Bitcoin.

The hedge fund manager said that the price of the largest cryptocurrency is unlikely to reach the million-dollar target because he does not believe that Bitcoin will be able to replace gold.

Dalio sees the yellow metal as the preferred store of value because it has been around for thousands of years.

Read:Concerns about using Facebook’s data in its new cryptocurrency project

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