Ray Dalio, the billionaire hedge fund manager, said on Thursday that he had bought some bitcoin, becoming one of the most high-profile investors to embrace cryptocurrency.
In an interview with CNBC, Dalio said he had purchased a small amount of bitcoin in recent months as part of a broader exploration of digital assets. He compared buying bitcoin to investing early in Apple or Google shares.
“I don’t understand it well enough,” he said. “But I think it is something that could be used as a storehold of wealth.”
Dalio’s comments come as bitcoin has surged to new highs, propelled by increasing mainstream interest and institutional investment. The price of bitcoin topped $50,000 on Thursday, more than doubling from its level just three months ago.
“I think we’re in a bubble in terms of what’s being priced in for both bitcoin and bonds,” Dalio said. But he added that the current environment was “unprecedented” and that it was difficult to predict how asset prices would move.
NOTE: WARNING: Investing in cryptocurrency such as Bitcoin can be a risky endeavor. Ray Dalio has not publicly stated that he has purchased any Bitcoin, and it is not known whether or not he currently owns or plans to own any in the future. Before investing in Bitcoin, it is important to research the potential risks and rewards involved, as well as the reliability of any source of information related to purchasing Bitcoin.
Dalio’s views on cryptocurrency contrast with those of JPMorgan Chase chief executive Jamie Dimon, who has called bitcoin a “fraud.” But Dimon has softened his stance in recent years, saying last year that he regretted making those comments.
Dalio joins a growing list of high-profile investors who have bought bitcoin amid its surge higher. Billionaire hedge fund manager Paul Tudor Jones said last month that he had invested around 1% of his assets in bitcoin, calling it a “great storehold of value.
” Square, the payments company run by Twitter chief executive Jack Dorsey, invested $50 million in bitcoin last year. .
Ray Dalio’s purchase of Bitcoin is part of a much broader exploration into digital assets that he’s been conducting recently. While he admits that he doesn’t understand Bitcoin well enough just yet, Dalio is optimistic about its potential as a storehold of wealth – especially in today’s unprecedented economic climate.
With more and more high-profile investors buying into Bitcoin, it seems like only a matter of time until it becomes even more mainstream than it already is.
5 Related Question Answers Found
Ray Dalio, the billionaire hedge fund manager and founder of Bridgewater Associates, has been a long-time critic of Bitcoin (BTC). In a recent interview with Yahoo Finance, Dalio doubled down on his criticism of the leading cryptocurrency, calling it a “bubble.”
Dalio has been warning investors about Bitcoin for years. In 2017, he compared investing in Bitcoin to investing in gold, calling both “non-productive” assets.
When it comes to Bitcoin, there are a lot of unknowns. For example, no one knows who created Bitcoin – though we do know it was created in 2009. And, while the value of Bitcoin has fluctuated wildly since it was created, it has shown remarkable resilience, bouncing back from crashes several times.
As of late, the YouTube channel MrBeast has been in the news for his latest stunt – giving away $50,000 worth of Bitcoin to 20 lucky people. The giveaway was simple – MrBeast set up a website with 20 addresses, each with a unique key. To enter, people had to go to the website and send 0.
01 BTC to one of the addresses.
When Bitcoin first burst onto the scene in 2009, it was nothing more than an idea. A white paper written by an anonymous person or group of people under the name Satoshi Nakamoto. And yet, that simple idea has revolutionized the way we think about money.
In December 2017, Jim Cramer, host of CNBC’s Mad Money and co-founder of TheStreet.com, announced that he had purchased a home using bitcoin. This was a significant announcement because Cramer is a well-known figure in the financial world and his endorsement of bitcoin helped to legitimize the cryptocurrency. Cramer made the purchase through an online real estate platform called Propy, which allows users to buy and sell properties using cryptocurrency.
