The founder and chief investment officer of Bridgewater Associates, the world’s largest hedge fund company, has clarified his views on Bitcoin and cryptocurrencies. Ray Dalio also revealed that he and his colleagues at Bridgewater are “focusing on alternative storage of wealth assets.”

Ray Dalio, the founder of Bridgewater, greatly appreciates Bitcoin

Ray Dalio, the founder and chief investment officer of Bridgewater, clarified his views on Bitcoin and revealed his company’s reserves in cryptocurrency. His hedge fund manages approximately $140 billion in assets and is the world’s largest hedge fund. AICIO magazine and “Wired” magazine referred to Dario as “investing Steve Jobs”, and “Time” magazine named him one of the 100 most influential people.

In a research report published on the Bridgewater Associates website on Thursday, Dario wrote: “I am writing this article to clarify my views on Bitcoin. Please pay attention to what I am saying here, and Don’t pay attention to what I say in the media, because it’s reliable.”

He first admitted that he is not an expert in Bitcoin or cryptocurrency. “Still, people are asking me to make a non-professional evaluation of Bitcoin. In my own words, clarification is better than distortion in the media, so here, a warning, don’t rely on it,” Dario declared, as he elaborated. :

I believe that Bitcoin is an invention hell. A new type of currency was invented through a system programmed into a computer. This system has been working for about 10 years and is rapidly popularized due to a currency and a way of storing wealth. This is a remarkable achievement.

Dario emphasized the current demand for “alternative gold assets”, saying, “Because there are not many storage places for such gold wealth assets, and the market size is relatively small, Bitcoin and its competitors may be able to meet Growing demand.”

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The founder of Bridgewater pointed out: “In my opinion, Bitcoin has successfully emerged from a highly speculative idea. This idea is likely not to appear in the short term, but may appear in the future, and May have some value in the future.”

He further said: “I really admire how Bitcoin has withstood the 10-year test, not only in this regard, but also in terms of how its technology works so well without being hacked.” Nevertheless, Bridgewall. Special executives warned, “For those who hold digital/network assets when cybercrime is much stronger than cyber defense, cyber risk is a risk I cannot ignore.”

All in all, Dario said that Bitcoin seems to him “like a long-term choice in a highly unknown future. I can invest some money because I don’t mind losing about 80%.” He concluded: “This This is what this non-expert Bitcoin looks like. I am eager to be corrected and learn more.”

Trust me when I tell you that my colleagues at Bridgewater and I are focusing on alternative custody of wealth assets.

Dario further revealed: “It is expected that Bridgewater will provide alternative cash funds and wealth fund holdings in the near future to better deal with the currency and credit depreciation that we consider to be major risks and opportunities, and Bitcoin will not be able to escape us. Censorship.” The person in charge of Bridgewater clarified that when he used the term “bitcoin”, he meant “bitcoin and its similar competitors”.

Dalio has been talking about more information about Bitcoin recently. In November, he admitted that he might be wrong about cryptocurrencies, but he still had questions. He stated in December that Bitcoin may be an alternative wealth to gold.

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What do you think of Ray Dalio’s views on Bitcoin? Let us know in the comments section below.

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