Billionaire Dalio Believes Bitcoin May Be Banned in The US
CoinEdition
Published Mar 26, 2021 04:20AM ET
Updated Mar 26, 2021 04:30AM ET
Billionaire Dalio Believes Bitcoin May Be Banned in The US
- Dalio thinks there is a “good probability” that bitcoin may be banned in the US
- The hedge fund manager also pointed out India’s current situation.
- Outlawing bitcoin is similar to what happened with gold back in 1934.
Ray Dalio, the man behind the $150 billion hedge fund Bridgewater Associates had a recent interview with Yahoo. He said there is a “good probability” bitcoin may be outlawed similar to what happened with gold last 1934.
Dalio is referring to the 1934 Gold Reserve Act. This law mandated all monetary gold to be transferred to the U.S. Treasury. This is for the sole purpose that financial institutions and citizens are not allowed to hold gold.
Dalio further talked about why he thinks bitcoin can be banned in the US. The hedge fund manager explained,
“Eve...This article was first published on coinquora.com
Continue reading on CoinQuora
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.