Ray Dalio, a billionaire investor and manager of hedge funds, believes cryptocurrency is a good option for investment portfolios that are located in an environment in which the dollar’s real value is declining.
A Blockworks report shows that Dalio stated during an interview with Yahoo Finance he has bitcoin and ethereum. He didn’t specify how much crypto he owned.
“It’s amazing that the programming has held up for the past 10 or 11 years,” Dalio said. It hasn’t been hacked… and it has an adopt rate,” Dalio stated in the report.
Bridgewater Associates, the founder of hedge fund manager Bridgewater Associates, and the firm’s CIO from 1985 to 1985, encouraged diversification during a Yahoo Finance interview. He also stated that crypto was “a relatively small portion of the portfolio” and that cash is the worst investment due to its loss in buying power.
Dalio advised investors to not look at the return on investments in nominal terms but instead in inflation-adjusted terms. Inflation silently eats away at your cash.
These are not Dalio’s first comments, according to reports Cryptocurrency .
CNBC reported that a billionaire investor had told CNBC earlier in September that regulators would attempt to “kill it”, if crypto is successful.
The Union government of India has never taken a favorable stance towards cryptos.
A PTI report says that the Indian government will not bring a bill regarding cryptocurrency to Parliament during the current winter session. It said that if a bill is brought, it will be referred the the parliamentary standing committee for further deliberations with stakeholders.
This bill was included in the government’s legislative activity of the winter session. It seeks to “create an facilitative framework for creating the official digital currency to issue by the Reserve Bank of India”. It also seeks ban on all private cryptocurrencies within India. According to the Lok Sabha website, the bill “allows for some exceptions to promote underlying technology and cryptocurrency’s uses”.
There is currently no ban or regulation on cryptocurrency use in the country.
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