Updated 02 Jun, 2021

Hedge Fund Manager Ray Dalio Confirms Bitcoin Investment

 

Ray Dallio

Key Takeaways:

  • Ray Dalio says he owns Bitcoin and prefers the digital asset instead of Treasury bonds
  • He considers Bitcoin’s success its greatest risk as the coin progresses into mainstream finance

Despite Risks, Ray Dalio Owns Bitcoin

Ray Dalio, the founder of the largest hedge fund in the world, Bridgewater, said last week he owns “some Bitcoin”. The announcement was made during CoinDesk’s Consensus event. Ray Dalio, boasts a net worth of $17bn. He has long been dabbling in cryptocurrencies, and has openly talked about the benefits of bitcoin as an alternative to cash or gold.

Risks involved in the growing popularity of the cryptocurrency market, such as becoming outlawed by governments, have been growing.  Despite this, Ray Dalio confirmed during the CoinDesk’s Consensus 2021 he had invested in the flagship cryptocurrency. “I have some bitcoin,” he said in the interview.

Ray Dalio is concerned that Bitcoin’s success is its “greatest risk”. In a scenario where Bitcoin is used in mainstream finance as part of the monetary system, Mr. Dalio considers government control to be the biggest threat. “One of the great things, I think, as a worry, 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,” he commented.

Ray Dalio Predicts Big Things For The Crypto World

“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. And then the more that happens, then it goes into bitcoin and it doesn’t go into credit, then [governments] lose control of that.”

The billionaire investors also said he thinks “the world is going to change at an incredibly fast pace”. And that “whoever wins the technology race, wins it all, economically, and militarily. That’s what the next five years looks like.”

Ray Dalio’s disclosure that he owns some Bitcoin makes him join the ranks of other big-name investors and hedge fund managers. Paul Tudor Jones, the founder of Tudor funds, has for a long time been holding cryptocurrencies. Stanley Druckenmiller, the founder of Duquesne family office, is also bullish on Bitcoin and invested in the cryptocurrency during the second wave of the crypto market rise.