Ray Dalio Says Bitcoin Is One Hell of an Invention

The Co-Chief Investment officer and Co-Chairman of one of the World’s largest hedge fund companies, Bridegwater has taken to his LinkedIn page to publish his views about Bitcoin. In the release titled “What I really think of Bitcoin”, he acknowledged the digital asset as a new technology that has built itself to be a force to reckon with globally within a decade. He said;

“I believe Bitcoin is one hell of an invention. To have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly gaining popularity as both a type of money and a storehold of wealth is an amazing accomplishment.”   

See also:https://cryptotvplus.com/2021/01/bank-of-england-head-says-bitcoin-and-other-digital-assets-do-not-have-tendency-to-last/

The piece started with Dalio stating clearly that he would be unbiased about his views in the piece and he asserted that he was not an expert when it comes to Bitcoin. He further applauded Bitcoin for standing the test of time and being an asset that could have value in the future;

“It seems to me that Bitcoin has succeeded in crossing the line from being a highly speculative idea that could well not be around in short order to probably being around and probably having some value in the future.”

He went on to applaud Bitcoin for the value it has attained within the time the digital asset has existed and the technology on which the digital asset is built. He also mentioned the illicit usage of cryptocurrencies as a downside to it;

“At the same time, I greatly admire how Bitcoin has stood the test of 10 years of time, not only in this regard but also in how its technology has been working so well and has not been hacked. Still, to one holding digital/cyber assets at a time when cyber offense is much more powerful than cyber defense, the cyber risk is a risk that I can’t ignore.”