Ray Dalio Warns That “If Crypto Is Successful, Regulation Will Kill It”
Bitcoin is trading in a 8,000 dollar range between $44,000 and $52,000 dollar for almost a month now. Even the news that AMC Theaters, one of the original Memestocks preferred by the Reddit investor crowd like WallStreetBets, is now accepting Bitcoin as payment, was unable to move it this week.
Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash. pic.twitter.com/uKcFyQotoJ— Adam Aron (@CEOAdam) September 16, 2021
Meanwhile celebrities are warning for pending regulation.
Ray Dalio, hedge fund legend and author of one of 2021’s best books (The Changing World Order) was invited to speak at the Salt conference which is making headlines in business media. Whereas Cathie Wood surprised attendants earlier this week by declaring she was softening her Chinese investment portfolio, Dalio put out a warning for the world of crypto. Speaking afterwards on CNBC, Ray Dalio claimed that:
If crypto is successful, regulation will kill it.
Governments don’t want it successful
He also admitted that Bitcoin:
Is an amazing accomplishment from where it occurred, where it was programmed, to have taken it to where it is.
Speaking about its possible expansion as a world currency, Dalio was still more skeptic, admitting that:
You have El Salvador taking it on, you have India and China getting rid of it and the United States talking about how to regulate it.
Attacking Cathie Wood
Dalio surprisingly attacked Cathie Wood, the top stockpicker of 2020. Ms Wood, a big Bitcoin fan, claimed when she spoke at the Salt conference, an annual gathering of hedge fund managers in New York City, that she expected Bitcoin to be worth $500,000 in five years.
To this forecast, Dalio said:
It doesn’t make sense.