Ray Dalio, founder and co-CEO of Bridgewater Associates, the world’s largest hedge fund, said he was looking closely at Bitcoin, suggesting the possibility of launching an alt-cash fund.
Ray Dalio talked about bitcoin in a column in his newsletter to Bridgewater customers (Bridgewater Daily Observations), stating that we need to deal with the devaluation of cash value and credit.
Dalio refers to Bitcoin as a tremendous invention and says it could be an asset similar to gold. He said he was concerned that bitcoin could be hacked and that the government could ban it if it had too strong a presence, but he said, “I can’t help but admire that it has worked well over the past decade without major problems.
In light of the remarks so far, Dalio’s remarks give a very friendly feeling to Bitcoin. However, he doesn’t seem to fully trust Bitcoin yet. He said his fund is experimenting with different scenarios involving Bitcoin. The scenario also includes a ban on the use of bitcoin by governments in each country.
“The scenarios draw a very uncertain picture,” Dalio said. “For this reason, Bitcoin seems to me like a long-term option investment in a very opaque future, enough to invest a decent amount of 80% loss.” said. He added that he was hoping to learn more about Bitcoin.
Translation: Kim Dong-hwan/Coindesk Korea
Bridgewater Asset Managemen… by CoinDesk
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