Billionaire Ray Dalio Speaks Of Threat Of Bitcoin Banning By Governments

The founder of the investment company Bridgewater Associates explained why he doubts the prospects of the firstcryptocurrency and prefers gold.

If Bitcoin seems to be dangerous to governments,it will be banned, the billionaire and founder of the investment company Bridgewater Associates, Ray Dalio, is sure. In an interview with Yahoo! Finance, he stressed that gold has an advantage over the main digital coin, since it is the precious metal that central banks and states will choose as an alternative to traditional money.

"The authorities will ban bitcoinin if the success of the cryptocurrency seems to them too big.Governments will make it illegal and will use all the tools they have to enforce.Then you'll think, "Is this a crime?

Also, the billionaire has pointed to the volatility of the first cryptocurrency, which does not allowIn addition, high fluctuations in the bitcoin exchange rate make itits useless as a means of saving, the investor is sure.

"There are currencies such as bitcoin, alternative currencies from the position of supply and demand and means of accumulation.And there are digital currencies, digital versions of the dollar, the euro, the Chinese yuan.I think we'll see more of the second," Dalio suggested.

For example, last December, the founder of Bridgewater Associates said that the only purpose of digital money is speculation.They exclude all the characteristics necessary for the use of cryptocurrency in the macroeconomic context, the investor believes.

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