Ray Dalio, the legendary investor and founder of Bridgewater Associates, confirmed that he owns bitcoin as Max Keiser predicted six months ago.
After recent inflationary concerns and monetary policy stances that the US government has announced, Dalio has warmed up to the concept of Bitcoin as a store of value and is starting to hold it in higher esteem compared to certain traditional vehicles like government bonds.
Inflation Takes Hold
Ray Dalio, much like the majority of the cryptocurrency world, believes that Bitcoin will fare better than bonds in an inflationary era like the one we’re in right now. The narrative that Bitcoin is a hedge against inflation has yet to be proven in practice – but the economic theory is sound. Provided a sustained level of demand, a reduction in supply will inevitably lead to a price increase.
A point of contention, however, is the legitimacy of Bitcoin’s demand – how much of it is speculative/mania-fuelled, and how much of it is from manipulation? This, of course, depends on how much fundamental utility Bitcoin can retain once the bubble’s dust settles.