Famous investor Ray Dalio, the founder of the world's largest hedge fund, Bridgewater Associates, made positive statements about Bitcoin in a discussion forum on Reddit. Ray's speeches can be considered surprising, given the negative history of investor statements regarding cryptocurrencies.
Last month, Ray had listed three main problems with Bitcoin and other cryptocurrencies that could limit the growth of this asset class:
- Lack of sites that accept cryptocurrencies as a means of payment
- High volatility
- Possibility of government bans
However, in a question and answer section on Reddit, Dalio showed a shift in opinion calling Bitcoin an interesting alternative to gold. Check out:
I think bitcoin (and a few other digital currencies) have established themselves over the past ten years as interesting alternatives to gold-like assets, ”adding,“ with similarities and differences with gold and other limited supply value reserves.
“Therefore, it could serve as a diversifier for gold and other value reserve assets. The main thing is to have some of these types of assets (with limited offer, which are mobile and which are a store of value), including stocks, in the portfolio and diversify among them. Few people do that. "
The billionaire is not the first to change his mind about Bitcoin, the announcement by the DBS Group made yesterday (9/12), is a great example of this. The bank's former chief information officer had said in 2017 that Bitcoin was "a kind of Ponzi scheme."
Interestingly, the bank recently announced the creation of a cryptocurrency trading platform for institutional investors based in Singapore, as well as the provision of other related services.
The wave of institutional investments in this market seems to be taking shape in recent months, with several announcements from multinational institutions positioning themselves in this market.
Read more: Bank that called Bitcoin a 'scheme' launches crypto platform for investors
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