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Billionaire Ray Dalio Sees Limitation on Bitcoin’s Price, Doubts BTC Can Reach $1 Million – Markets and Prices Bitcoin News

by Crypto News
December 28, 2021
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Billionaire Ray Dalio Sees Limitation on Bitcoin’s Price, Doubts BTC Can Reach $1 Million – Markets and Prices Bitcoin News
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Billionaire Ray Dalio Sees Limitation on Bitcoin's Price, Doubts BTC Can Reach $1 Million

Billionaire Ray Dalio, the founding father of the world’s largest hedge fund, Bridgewater Associates, says it’s not potential for the value of bitcoin to succeed in a really excessive quantity, corresponding to $1 million. He defined: “Logically … there’s a limitation on its worth in relationship to different issues prefer it.”

Ray Dalio on The place the Value of Bitcoin Is Heading

Bridgewater Associates founder Ray Dalio shared his view on how excessive he thinks the value of bitcoin may attain in an interview with Lex Fridman, revealed Saturday. Dalio at present serves as Bridgewater Associates’ chairman and co-chief funding officer. His agency’s purchasers embody endowments, governments, foundations, pensions, and sovereign wealth funds.

The Bridgewater boss was requested whether or not he thinks it’s potential for the value of bitcoin to succeed in a really excessive quantity, corresponding to $1 million. Dalio promptly replied:

I don’t suppose that’s potential.

“The best way I take a look at it’s there’s a specific amount of it [bitcoin] and there’s a specific amount of gold,” he elaborated. “I’ll use gold as a benchmark,” he added, noting that the market cap of bitcoin is at present about $1 trillion and the market cap of all the crypto market is about $2.2 trillion.

“For those who take the sum of money that’s in gold that’s not used for jewellery functions and never utilized by central banks — and I assume bitcoin received’t be used for jewellery functions or central financial institution functions — that quantity of gold is about $5 trillion,” he defined. “So proper now in case you have been to have a portfolio that has gold and … bitcoin, it’s value about 20% of the worth of gold.”

The billionaire emphasised that he doesn’t suppose bitcoin might be value greater than gold. “I believe that 20% sounds sort of about proper,” he affirmed however admitted, “I actually don’t know what the proper reply is.”

The Bridgewater founder concluded, “For those who use gold as a measure, it simply is mindless that it’s going for use that rather more.” Whereas admitting that he’s “undecided about something,” Dalio mentioned:

Logically it appears to me that there’s a limitation on its worth in relationship to different issues prefer it.

Dalio beforehand revealed that he has a small quantity of crypto in his portfolio for diversification. Relating to bitcoin, he said: “I believe it’s very spectacular that, for the final 10, 11 years, that programming has nonetheless held up. It hasn’t been hacked and so forth, and it has an adoption charge.”

Some folks disagree with Dalio about how excessive the value of bitcoin may attain. Microstrategy CEO Michael Saylor, for instance, expects the value of BTC to maintain climbing in opposition to the greenback. The professional-bitcoin govt particularly mentioned that it may attain $600,000 after which $6 million a coin sooner or later.

What do you concentrate on Ray Dalio’s prediction and feedback? Tell us within the feedback part under.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.




Picture Credit: Shutterstock, Pixabay, Wiki Commons

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