Bridgewater Associates founder Ray Dalio is back commenting on the future of money and what role cryptocurrencies will play in it.
Dalio admitted that cryptocurrencies are interesting and that he has already invested a small percentage of its portfolio in it, but he feels it receives too much attention.
“In terms of its size, it has issues. So, I think too much attention is spent on crypto”, he said in an interview for David Rubenstein last Thursday.
There is also the lasting risk of governments choosing to outlaw cryptocurrencies, with most recently China doing so and India and Russia rattling their sabers for a while before (apparently) choosing not to ban crypto.
Dalio’s latest comments reflect a warning he released last September, cautioning that governments could “kill bitcoin”.
The investor also came up with a formula for investing into the space. The world is shifting towards a time when the real value of money and its capacity of storing wealth is questioned.
Dalio argued that money is going to be changing, along with the way people store wealth. Whether this is going to be bitcoin, gold or another cryptocurrency remains to be seen.
While some governments have shown hostility towards crypto, many are now rethinking their conservative stances.
India is thinking of introducing a 30% tax and Russia, which originally wanted to ban crypto, may choose a milder approach as well.
The US has also been figuring out a way to regulate crypto. This year, the Internal Revenue Service will ask taxpayers if they have crypto holdings and tax some of them accordingly.
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