Assets, Bitcoin

Did Ray Dalio Buy Bitcoin?

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.

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.

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