{"id":165282,"date":"2021-01-28T20:57:56","date_gmt":"2021-01-28T17:57:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ray-dalio-does-180-on-bitcoin-calls-it-one-hell-of-an-invention\/"},"modified":"2021-01-28T20:57:56","modified_gmt":"2021-01-28T17:57:56","slug":"ray-dalio-does-180-on-bitcoin-calls-it-one-hell-of-an-invention","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ray-dalio-does-180-on-bitcoin-calls-it-one-hell-of-an-invention\/","title":{"rendered":"# Ray Dalio does 180 on Bitcoin, calls it \u2018one hell of an invention\u2019"},"content":{"rendered":"

“# Ray Dalio does 180 on Bitcoin, calls it \u2018one hell of an invention\u2019 <\/strong>”
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Ray Dalio, the famed founder of Bridgewater Associates, called Bitcoin (BTC) \u201cone hell of an invention,\u201d adding that he\u2019s considering digital-asset investing for clients wishing to protect against currency debasement.\u00a0<\/p>\n

In a note to clients that was obtained by Bloomberg News<\/a>, Dalio called<\/a> Bitcoin\u2019s store-of-value characteristics an \u201camazing accomplishment\u201d and one of the few \u201calternative gold-like assets at this time of rising need for them.\u201d <\/p>\n

He said:<\/p>\n

\u201cTo have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly gaining popularity as both a type of money and a storehold of wealth is an amazing accomplishment.\u201d<\/p><\/blockquote>\n

Bridgewater Associates is the world’s largest hedge fund, with assets under management of roughly<\/a> $160 billion. The firm is trusted by institutional investors and other high-net-worth individuals to produce steady returns regardless of the market environment.<\/p>\n

Like other hedge fund managers, Dalio has been critical of Bitcoin in the past. In November 2020, he criticized BTC for its excess volatility, claiming that it could never be an effective medium of exchange or store of value. He quickly retracted his statement as Bitcoin\u2019s price surged toward new all-time highs. <\/p>\n

\u201cI might be missing something about Bitcoin so I\u2019d love to be corrected,\u201d he said<\/a> in a Nov. 17, 2020 tweet. <\/p>\n

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I might be missing something about Bitcoin so I\u2019d love to be corrected. My problems with Bitcoin being an effective currency are simple… (1\/5)<\/p>\n

\u2014 Ray Dalio (@RayDalio) November 17, 2020<\/a><\/p><\/blockquote>\n