Bridgewater founder Ray Dalio considers bitcoin as a potential store of wealth to deal with the devaluation of money and credit, reports CaseBitcoin. In a 14-page Bridgewater report, Dalio says, “bitcoin is one hell of an invention,” and Bridgewater won’t escape its consideration.
- Bridgewater’s characterization of bitcoin as ‘an option on a potential storehold of wealth’ underlies its growing popularity even as Dalio notes his relative ignorance of the digital currency.
- Dalio stresses the need for the store of wealth assets limited in supply, including those that can be privately held, in appreciation of bitcoin’s fundamentals.
- Dalio, nonetheless, recognizes the potential price volatilities of bitcoin, noting the supply of new cryptocurrencies which could impact prices.
- The Bridgewater founder also recognizes regulatory hurdles facing bitcoin’s acceptance by governments.
Bitcoin is currently gaining. BTCUSD is up 7.66%
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