Billionaire Investor Ray Dalio, a founder of the largest hedge fund, Bridgewater Associate, announced “I have some Bitcoin,” in the middle of an interview at crypto conference Consensus, recorded on May 6 and published on Monday. He is also known as the king of hedge funds.
Micheal Saylor greeted him by tweeting, “Welcome to the team Ray”
The billionaire hedge fund boss sees an inflationary future where “Cash is trash,” and BTC catches on as a store of wealth. “Bitcoin’s Greatest risk is its success because if it succeeds, the government will try to kill it and they have a lot of power to succeed,” he said.
If it succeeds, the government has the capacity to control bitcoin or digital currencies. “They know where they are, and they know what’s going on,” he said.
The government may start to worry should bondholder sell their bonds in favor of bitcoin. “The more we create saving in bitcoin the more you might say, I’d rather have bitcoin than the bond.” “Personally, I’d rather have bitcoin than the bond,” Dalio said in a long-ranging discussion.
Government losing control could lead those governments to crack down on bitcoin holders.
“The world is going to change at an incredibly fast pace,” Dalio said. “Whoever wins the technology race wins it all economically and militarily. That’s what the next five years look like.”
The release of the interview comes as the price of Bitcoin & other cryptocurrencies has continued to fall. Tesla CEO Elon Musk’s announcement of suspending Bitcoin payment for Tesla promoted the crash. Additionally, China recently banned financial institutions from providing services related to Bitcoin transactions.
