Why does Bridgewater Associates co-founder and chief investment officer Ray Dalio says there is a strong likelihood that the government will outlaw bitcoin in the same way it outlawed US gold in the 1930s?
Ray Dalio is an experienced investor, billionaire, and a person who is able to think not in cliches, but deeply versed in the structure of the financial system.
Some crypto enthusiasts have accused the CEO of Bridgewater of trying to manipulate the market to buy Bitcoin cheap, noting that an increasing number of large corporations are investing in BTC. Goldman Sachs recently said it sees huge institutional demand for cryptocurrency, and Visa expects Bitcoin to go "extremely mainstream." Deutsche Bank says bitcoin is now the third-largest currency after the dollar and the euro, and Morgan Stanley is gearing up to offer Bitcoin access to wealthy customers, and other banks are expected to follow suit.
Responding to Dalio's "misleading" views, criticism enthusiasts have engaged in heated debates with Dalio on social media to prove the government's inability to ban Bitcoin. Gemini co-founder Cameron Winklevoss wrote: “Bitcoin may have similar properties to gold but outlawing decentralized software is a much different problem. It requires you to essentially outlaw the Internet.”
But Ray Dalio is more than just a critic of Bitcoin, he admitted that Bitcoin is a “hellish invention” that can “serve as a diversifier of gold and other similar repositories of tangible assets.” Dalio studied Bitcoin deeply for several months before coming to this conclusion ...
Why does Ray Dalio see something that is not clear to many investors and especially regulators? What allows a person who has deeply studied the phenomenon of bitcoin to declare that it will definitely be banned?
Shirty, because Mr. Dalio realized that if the government doesn’t “outlaw” Bitcoin, then his days are numbered. Bitcoin slowly, gently, almost imperceptibly, eats away depreciating money from the markets, swallowing more and more.
This process can no longer be stopped.
Although, if you delve into the conspiracy, perhaps the Feds are interested in Bitcoin in order to sterilize the growing money supply in the future, which the stock market will not be able to swallow. And all this is being done to continue the massive injections of cash into the economy, which, like a drug addict, will no longer survive without another dose.
