Ray Dalio: Bitcoin may be banned in the US

The founder of Bridgewater Associates, Ray Dalio, in an interview with Yahoo Finance, said there is a high probability of a ban on the firstcryptocurrencies in the USA.

The billionaire drew an analogy with the government's decision toconfiscation of gold from the population during the Great Depression. In 1933, the government sought to reduce competition for precious metals with cash as a store of value.

“Each country values ​​its monopoly oncontrol of supply and demand. They [the authorities] don't want other money to work or compete because things can get out of hand, ”Dalio added.

The billionaire recalled that the Indian regulator is considering a ban on cryptocurrencies. In his opinion, such a decision could lead to a drop in demand for digital assets.

“Bitcoin has performed well over the past10 years. It hasn't been hacked, it has many followers. In a sense, this is an alternative to wealth storage. It's like digital cash. And these are all advantages, ”Dalio said.

In 2017, the billionaire called the first cryptocurrency a bubble, although he acknowledged its performance "at the conceptual level."

In January 2020, Dalio criticized Bitcoin forhigh volatility and called it ineffective as a medium of exchange and wealth preservation. The financier later added that a digital asset cannot replace gold.

In December, Dalio admitted that “somethingmissing out on bitcoin, ”and asked Twitter readers to help him figure out what it was. The billionaire soon announced that cryptocurrencies could be an alternative to gold.

In January 2021, Dalio announced that he was exploring the possibility of acquiring bitcoin. He called the asset "a damn good invention."

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