Dalio warns regulators to “kill” Bitcoin if it is too successful

Bitcoin update

Ray Dalio said regulators would shut down Bitcoin if cryptocurrencies were too successful, dismissing ArkInvest’s Cathie Wood price forecast to increase tenfold within five years.

At the Salt Conference on Wednesday, the founder of Bridgewater Associates, Bitcoin will be a viable investment option as long as payments are allowed, he added: .. ..[regulators]Try to kill it. “

He also said at the Salt Conference, an annual gathering of hedge fund managers in New York City on Monday, that Bitcoin is expected to be worth $ 500,000 over five years. Raised. detection”.

Wood’s investment company Bitcoin Exchange Traded FundAlthough it has not yet been approved by the regulatory agency.

Dario’s comment comes after Gary Gensler, chairman of the US Securities and Exchange Commission, has asked Congress for more regulatory power to deal with the “wild west” of cryptocurrencies.

Last week, the SEC warned Coinbase, the first publicly listed cryptocurrency exchange in the United States. bring the action The company that launched a new digital asset lending product called Lend.

The news has sparked a debate about whether such products that allow users to be interested in certain digital assets should be considered securities and therefore under the jurisdiction of regulatory agencies.

Dario said he bought the cryptocurrency himself, but still holds less than his investment in gold. “The government doesn’t want alternative currencies,” he added, but investors need to diversify their holdings.

Bitcoin prices have risen almost 50% this year as prominent investors such as Paul Tudor Jones and Stanley Drucken Miller put weight behind cryptocurrencies.

Dario, co-chief investment officer and co-chair of the world’s largest hedge fund with over $ 100 billion in assets, has also shown that it is preparing to leave the industry. “I finished in a year or two,” he said.

Investors predicted that the market would look different in the coming years as the effects of fiscal and monetary stimulus diminish. “You have a good stimulant, everyone is expensive and it’s great, but when it wears out, it’s going to be a little different situation,” he said.

Dalio warns regulators to “kill” Bitcoin if it is too successful

Source link Dalio warns regulators to “kill” Bitcoin if it is too successful

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