A purchase of BTC passed under the radar – Ray Dalio is a renowned investor in traditional finance, who has long shown some skepticism towards Bitcoin and cryptocurrencies, preferring gold as a store of value. Obviously, this reluctance did not prevent him from buying some bitcoins, even if the billionaire had been careful not to say so until now.
Gold and Bitcoin: the lifelines in the face of a falling dollar?
It was during an interview given to the crypto-media CoinDesk that Ray Dalio, founder of the large investment fund Bridgewater Associates, has done a few confidences on his vision most recent from Bitcoin and the cryptosphere.
First, if a conviction of the billionaire investor still hasn’t changed of a single iota, it is the one concerning the US dollar and fiat currencies in general. These inflationary state currencies, printed with a vengeance, are doomed to self-destruct.
« [Aujourd’hui,] it is debt and credit that create purchasing power (…) they are short-term ‘stimulants’, and long-term ‘depressants’, because public debts, for example, will have to be repaid one day or another (…) it becomes more and more difficult. “
Faced with this observation, the investor has long preferred gold as safe investment to protect his heritage, but he seems to have wanted to diversify :
“Personally, I prefer to have bitcoins than a bond [d’État] (…) I have some bitcoins. “
And There you go ! The revelation is released. Even if the billionaire is careful not to say when and how much of BTC he bought (and at what price), he has taken the plunge into investing in crypto-assets.
Some fears remain: the too great success of Bitcoin
Although it may seem paradoxical, one of Ray Dalio’s greatest reluctance to own Bitcoin is that the latter experiences a too big and fast success against fiats currencies. Indeed, the investor is afraid that governments, faced with competition from a strong currency like Bitcoin, can crack down on its owners, by twisting their arm with a regulation also punitive that unfair.
However, the technological changes, especially digital, are the key to global geopolitical dominance, according to this finance genius:
“The world will change at an incredibly fast pace (…) Whoever wins the technology race wins everything, economically and militarily. This is what the next 5 years will look like. “
Ray Dalio’s push for Bitcoin seems to have happened in early 2021, when he said it was “a f ***** invention.” Faced with the economic situation which is worsening by the day, with the debts which are getting deeper and deeper, the king of cryptocurrencies seems to be, for the billionaire, a complementary lifeline to gold, unless the states decide to put in place dictatorial bans (right, China?).