World’s top hedge fund founder Ray Dalio has gone from doubting bitcoin to dipping into it amid the looming global debt crisis, according to Yahoo! Finance. Ray retaliated that the U.S dollar is on its way to devaluation to the 1971 levels.
Dalio says the U.S dollar is under pressure from rising debt which have to be paid back.
Dalio feels that China is also becoming a threat to the U.S dollar retaining its role as the globe’s reserve currency.
The Bridgewater founder says bitcoin, with its gold-like properties is likely to become attractive as a savings vehicle if the dollar is devalued.
Dalio said he prefers bitcoin to bond in an inflationary environment even as he revealed he holds some of the digital token.
The Bridgewater founder feels the major hindrance to bitcoin’s growth is its success.
Bitcoin is currently gaining. BTCUSD is up 7.29%
