Ray Dalio, formerly known for Bitcoin criticism, wrote in an investor letter today that Bitcoin can be long-lasting. Dalio’s hedge fund Bridgewater Associates LLC. is considering adding Bitcoin to its balance sheet.

 

 

Ray Dalio is considering buying Bitcoin

Twitter crypto analyst Hasu highlighted the notes in Bridgewater’s daily newsletter and stated that billionaire hedge fund manager Ray Dalio is interested in Bitcoin for ways to reduce future dollar losses.

In some of his previous comments, Dalio rejected Bitcoin because of its volatility. Last November, Dalio stated that “something might be missing” about the cryptocurrency.

Bridgewater’s Chief Investment Officer made very positive observations about Bitcoin today. In his current view, Bitcoin may have long-term potential and is no longer a “speculative idea”.

He also stated that “demand must be predicted in order to predict the price because the supply is known”, and this is seen as one of the biggest victories for BTC enthusiasts as he begins to acknowledge the power of Bitcoin’s limited supply.

 

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“I can deposit money that I wouldn’t mind losing most of.”

Not only this; Dalio also opposes opening public ledgers as a privacy breach that exposes investors to theft. One of the most exciting parts of Dalio’s quotes was this:

“Bitcoin seems like a long-term option in the very unknown future where I can put some money in, of which I wouldn’t mind losing 80%.”

Unlike other hedge fund managers such as Paul Tudor Jones and Stan Druckenmiller, Dalio has yet to approve of buying Bitcoins and is currently only considering it as an option.

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