Ray Dalio, a billionaire hedge fund manager, has declared that he owns bitcoin, making him one of the newest traditional investors to declare ownership of the world's most popular digital currency.
In an interview aired Monday during CoinDesk's renowned multiday crypto conference held by the digital-focused web platform, Dalio told Michael Casey, "I have some bitcoin."
The words of the founder of Bridgewater Associates show that he is gradually warming to bitcoin and cryptographic assets in general, despite his past pessimism.
Dalio told CoinDesk that he would prefer to have bitcoin than a bond.
Governments would struggle to maintain control of their currency and the flow of money and credit as cryptocurrencies compete as cross-border alternatives, according to Dalio, who urged diversifying one's crypto holdings.
Dalio hinted in November that he was skeptical of the use of assets like bitcoin BTCUSD, 10.09 percent, and Ethereum ETHUSD, 17.83 percent, the world's second most popular cryptocurrency.
During a recent CoinDesk interview, Dalio declined to specify how much bitcoin he owns. It's also possible that his investment is simply a means for him to have a better understanding of an asset that he has previously derided.
His recent comments, on the other hand, show that he has softened his stance on bitcoin and its ilk.
Dalio was bullish about crypto assets earlier this month, noting that the biggest danger was “its success.” During the CoinDesk interview, he reinforced this point about bitcoin, saying that the best cryptocurrency for individuals may not be the best cryptocurrency for governments.
According to Forbes, Dalio, a significant person in the financial sector, has a net worth of $20.3 billion.
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