Ray Dalio Warns This Is What Governments Will Do to Bitcoin if It Becomes ‘Really Successful’

Billionaire hedge fund titan Ray Dalio is warning investors that governments might employ draconian measures against Bitcoin (BTC) if the leading cryptocurrency becomes “really successful.”

Dalio is the founder of one of the world’s largest investment management firms, Bridgewater Associates.

In an interview with CNBC, he claims that if Bitcoin truly takes off, the government has both the motivation and ability to kill the blockchain-based asset.

“The governments don’t want to have it [be] successful.

I think regulation… at the end of the day, if [Bitcoin is] really successful… they’ll try to kill it. And I think they will kill it because they have ways of killing it.”

He compares Bitcoin to other historical assets without intrinsic value whose valuations have fluctuated drastically, going quickly from massive bubbles to crashes. Dalio warns that Bitcoin may prove to fall into the same category.

While Bitcoin is rising in dominance, Dalio remains diversified and thinks it’s worth considering all alternatives to cash, such as gold.

He notes that his current allocation into Bitcoin is a “small percentage” of what he holds in gold.

Dalio stresses the importance of diversification and securing wealth through assets with intrinsic value to hedge against inflationary monetary policy.

“With a fiat monetary system, where is your hard money? That’s the question, and however you go after it, I think that’s the question [that needs] to be answered.”

His remarks come as Congress grapples with crypto regulation in order to increase government oversight within the digital asset markets.

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Source: https://dailyhodl.com/2021/09/17/ray-dalio-warns-this-is-what-governments-will-do-to-bitcoin-if-it-becomes-really-successful/