Dario warns that if Bitcoin becomes too successful, regulators will “strangle” Bitcoin

[ad_1]

Bitcoin update

Ray Dalio stated that if cryptocurrencies become too successful, regulators will shut down Bitcoin and rejected Ark Invest’s Cathie Wood’s prediction that its price will rise tenfold in five years.

The founder of Bridgewater Associates stated at the Salt Conference on Wednesday that Bitcoin will be a viable investment option as long as it is accepted for payment, but added: “I think eventually if it really succeeds…[regulators]Will try to kill it. “

He also disputed Wood. Wood said at the annual Salt meeting of hedge fund managers in New York City on Monday that she expects Bitcoin to be worth $500,000 in five years. Dalio said that this prediction “is not true.” feel”.

Wood’s investment company announced a plan Bitcoin Exchange Traded Fund, Although it has not yet received regulatory approval.

Dalio made the above comments after Gary Gensler, chairman of the US Securities and Exchange Commission, called on Congress to grant more regulatory powers to deal with the “Wild West” of cryptocurrencies.

The US Securities and Exchange Commission last week warned Coinbase, the first publicly listed major cryptocurrency exchange in the United States, that it will Prosecute If the company launches a new digital asset lending product called Lend.

The news sparked a debate about whether such products allow users to earn interest on certain digital assets, should they be considered securities, and therefore fall under the jurisdiction of regulatory agencies.

Dario said that he himself bought cryptocurrencies, but his holdings are still small compared to his investment in gold. He added that “the government does not want alternative currencies” but investors should diversify their holdings.

The price of Bitcoin has risen by nearly 50% this year, and well-known investors such as Paul Tudor Jones and Stanley Druckenmiller have devoted themselves to this cryptocurrency.

As the co-chief investment officer and co-chairman of the world’s largest hedge fund, Dario, who has assets of more than $100 billion, also said that he is preparing to leave the industry. “I finished it in a year or two,” he said.

The investor predicted that as the effects of fiscal and monetary stimulus gradually fade, the market will be different in the next few years. “You have a good stimulant, and everyone is excited, which is great. But when this goes away, it will be different,” he said.

[ad_2]

Source link