World’s Largest Hedge Fund Claims Governments Will “Outlaw” Bitcoin
Last Updated on 14 November 2020 by CryptoTips.eu
As Bitcoin continues to run a string of records this year and makes a fool out of many that thought gold would have been a better investment, those that didn’t bet on it are starting to criticize crypto altogether. How convenient.
Among them the founder of the world’s biggest hedge fund, Mr Ray Dalio.
The bestselling author of books like Principles and How to manage big debt crises has been predicting what would happen after the pandemic for a long time.
Government Ban on Bitcoin? No Dice Dalio, Say Crypto Execs https://t.co/F9XhN3X9kv
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He seems to have missed the rise of cryptocurrencies this year though, even if many others on Wall Street did invest. In response, Dalio said in an interview with Yahoo Finance that he expects world governments to one day “outlaw” Bitcoin if it indeed becomes too powerful.
Teeth to enforce
Just like many have claimed that world government will never allow Facebook’s Libra to materialize because it would simply be too big for them to manage, Dalio said that if Bitcoin’s price rises too high, governments will simply “outlaw” it.
They’ll use whatever teeth they have to enforce that.
Already yesterday we wrote about how several banks are refusing their customers to transfer money from their own accounts, so it is clear that resistance against Bitcoin is growing.
The founder and co-chairman of hedge fund Bridgewater Associates added:
I don’t think digital currencies will succeed in the way people hope they would.
Would I prefer bitcoin to gold? No.
