Ray Dalio, a renowned billionaire investor, and hedge fund manager, insisted that he would rather purchase bitcoin (BTC) over bonds. He aired his opinion while speaking at a recent interview at the crypto conference Consensus.
He spoke on May 6 in an interview that was aired on May 24 where the co-chairman and co-CIO of Bridgewater Associates described Bitcoin as a superior instrument for investing savings than government or corporate bonds.
“The more we create savings in [Bitcoin], the more you might say, ‘I’d rather have Bitcoin than the bond.’ Personally, I’d rather have Bitcoin than a bond.”
Dalio further argued that the more savings go to crypto, the less power the government has over ordinary people’s capital. But, despite emphasizing the merits of investing in BTC, Dalio has noted that “Bitcoins greatest risk is its success. He also speculated that the recent BTC exponential popularity surge and general crypto assets performance may spark the catalyst for the widespread government crackdown on the sector.
“One of the great […] worr [ies] is the government having the capacity to control […] Bitcoin or the digital currencies, “They know where they are, and they know what’s going on.”
Dalio admitted holding Bitcoin earlier in March after predicting the U.S. attempt to restrict cryptocurrency. He has noted that on several occasions the United States government has tried to curtail any asset that appears to compete with treasury bonds. Earlier in the 1930s, the US attempted to ban its citizens from owning or trading with gold amid treasury bonds competitive threat concerns.
In January 2021, Dalio warned about increasing regulatory pressure targeting digital assets amid the cryptos’ impressive Bull Run, He wrote:
“I suspect that Bitcoin’s biggest risk is being successful because if it’s successful, the government will try to kill it and they have a lot of power to succeed.”