Bitcoin News: Famous CEO Ray Dalio made statements about how China’s digital yuan can compete with Bitcoin. Bridgewater Associates CEO Ray Dalio emphasized that Bitcoin is an “alternative currency” in an interview with CNBC.
Bitcoin and other currencies
Dalio emphasized that it is extremely important to distinguish between digitized versions of existing currencies and alternative currencies. When we look at Dalio’s words, he points out that it is extremely important to use Blockchain technology. Stating that using this technology is something different from having an alternative currency, Dalio emphasizes that “it is an alternative currency against digitalization” for Bitcoin.
As it will be remembered in the past days, Dalio made a surprising statement and clearly stated that he owns Bitcoin.
BTC and China’s digital yuan
Dalio, the head of Bridgewater Associates, the world’s largest hedge fund, also made statements about the digital yuan. Dalio states that the digital yuan could potentially compete with the world’s largest cryptocurrency, Bitcoin, but not completely capture the cryptocurrency market.
According to Dalio, if the digital Yuan becomes international, it could become a very viable alternative for many people around the world. While making these statements, Dalio also emphasizes the issue of confidentiality. Dalio states that the Digital Yuan will be disadvantageous in terms of privacy issues.
Touching on the digital dollar issue, Dalio also emphasized that such an approach would be viable but not competitive.