"I Might Be Missing Something," Says Billionaire Bitcoin Bear Ray Dalio

Key Takeaways

  • Ray Dalio manages the largest hedge fund in the world.
  • Dalio is a long-time Bitcoin bear, previously describing it as inferior to gold.
  • The fundamentals underpinning the latest bull run may have caused him to change his mind on Bitcoin.

Share this article

Bridgewater Associates founder Ray Dalio posted a series of tweets regarding Bitcoin fundamentals on Nov. 17 after being surprised to see BTC cross $17,000.

Dalio acknowledged his bearish analyses might have been wrong, adding that he would “love to be corrected.”

Dalio has previously stated that Bitcoin is inferior to gold and ineffective as either a medium of exchange or a store of value.

Earlier this month, Dalio even claimed that Bitcoin will likely be outlawed if it ever became “material,” adding that crypto will not succeed in the way people are hoping.

Is Dalio Having Second Thoughts on Bitcoin?

The outspoken Bitcoin bear may now be changing his tune, opening a debate on Twitter around the world’s leading cryptocurrency.

While Dalio is sticking to his guns, for now, claiming that world governments are more likely to ban Bitcoin than to adopt it, this is the first time he has acknowledged that he may not have the full picture.

Former Bitcoin bears like Jamie Dimon and Michael Saylor have recently come around to Bitcoin, which may have impacted Dalio’s analysis. The current bull run is also quite distinct from the FOMO frenzy in 2017, with much stronger fundamentals underpinning current price action.


Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article