In a meeting with Yahoo! Money, the organizer of Bridgewater Associates, Ray Dalio, repeated his previous expectation that the public authority could boycott Bitcoin. He additionally expressed that the probability of such a situation happening is high.
- “So those have been the things– the thing that I learned the best, and I learned from failure– I learned from my failure, 1982– I expected a big debt crisis. That was going to cause problems. That was the bottom in the stock market. I couldn’t have been more wrong. And that gave me the humility to realize that what I think in my head or what any one individual thinks in their head might be wrong. And the markets help you understand that.“
The extremely rich person disclosed that legislatures will in general esteem their imposing business model on money and don’t need different monetary standards like Bitcoin to hold them up in light of the fact that “things can run wild.”
- However, the kind of meat and potatoes type of companies didn’t benefit as much from those, and they’re fairly stable and so on. And so that’s why you’re starting to see that kind of rotation. Now, that can change. It can come and go in those phases– like when people get stimulus checks, and then, you know, they might be hot on the exciting things and they run up again, and so on. But that’s going on. And of course, there’s Bitcoin and other things that are going on.
Dalio focuses to India to act as an illustration of a country that is wanting to boycott Bitcoin. In any event, holding cryptographic forms of money would be illicit if the bill passes.
- So I think that it would be very likely that you will have it, under a certain set of circumstances, outlawed the way gold was outlawed. And you’re watching that question arise in India today. India today is making a move to outlaw it– outlaw possession of it. OK, so we have to see what that means.
The mutual funds legend additionally makes reference to that he currently considers Bitcoin to be an “elective” in light of the fact that there are very few comparable resources, and cases that BTC itself has demonstrated its value in additional. recent years.