Billionaire and hedge fund founder Bridgewater Associates Ray Dalio warned that there is a “good chance” of a US ban on Bitcoin. Against this background, the BTC rate continued to fall to $ 52,000.
Elon Musk’s announcement that Tesla electric cars can now be bought for bitcoins helped the first cryptocurrency rise above $ 57,000. However, then uncertainty returned to the markets, and Dalio only added fuel to the fire.
In an interview with the editor-in-chief of Yahoo Finance, he stressed that Bitcoin may well be banned in the United States, as was the case with gold in the 30s of the last century. Back then, the American authorities did not want gold to compete with fiat money and securities, and the same situation is now observed with bitcoin.
“They don’t want any other money to compete with the US dollar because the situation could get out of hand. I think there is a possibility that under certain circumstances, bitcoin will be outlawed, just like gold was once, “said the billionaire.
Dalio recalled that the Indian government is preparing a complete ban on the use of cryptocurrencies in the country, and criminal liability may be introduced for the storage of digital assets. He noted that government departments can track those who work with cryptocurrencies.
At the same time, Dalio recognizes that cryptocurrencies, as a new asset class, have passed the test of time. He said:
“Bitcoin has proven its worth over the past ten years, it has not been hacked. He worked well, he has a lot of fans and he can act as an alternative to traditional assets for storing wealth. It can also act as electronic money. ”
Popular cryptocurrency analyst MMCrypto notedthat the Bitcoin chart is similar to the traditional “double top” chart of technical analysis, and may well continue to fall to $ 45,500.
Dalio has never been a bitcoin fanatic, but last December recognized the effectiveness and value of the first cryptocurrency as an investment vehicle.
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