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Billionaire Ray Dalio reveals that he owns Bitcoin and believes that the biggest risk to Bitcoin is his success


 The director of the US billionaire hedge fund admitted on Monday that it holds bitcoin and praised the role of the cryptocurrency as a better hedge asset over bond inflation, indicating a shift in his skeptical stance in the industry.


During the CoinDesk annual consensus conference, the investor spoke about digital currency amid mounting inflationary concerns.

 Dalio said: 

I have some bitcoins.

 He also added that he owns more cryptocurrency than bonds.


When referring to a tougher regulatory environment in the near future while investor demand is high, the billionaire commented:


I think Bitcoin's biggest risk is its success.

And I also think one of the biggest risks ... is the government having the power to control it, whether bitcoin or other digital currencies.

 The hedge fund manager added that they know where they are and they know what's going on.


The upbeat comments regarding Bitcoin's future came amid a discussion of a downbeat view of the US dollar.


In November 2020, Dalio was not positive about cryptocurrencies, as he stated at the time:

Bitcoin and other cryptocurrencies are too volatile to be considered an effective store of wealth.

Dalio said at the time that this volatility was also detrimental to the use of Bitcoin in transactions because sellers would not know how much they would be getting.


Additionally, the billionaire said:

Maybe I am missing something about Bitcoin, so I would like a correction.

 

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