The founder of hedge fund Bridgewater Associates, Ray Dalio, told CNBC that Bitcoin is an alternative currency. At the same time, he urged to distinguish digitized national currencies from alternative digital currencies, writes RBC Crypto.
“Bitcoin is an alternative currency compared to digitalization,” said the billionaire.
Dalio also admitted that the digital yuan will be able to compete with bitcoin, but the national digital currency will not be able to take over the crypto market. The digital dollar will be viable and competitive, the billionaire believes.
Earlier, the founder of Bridgewater Associates announced the ownership of bitcoins. In the current environment, the main cryptocurrency looks like a more attractive store of value than gold, Dalio said.
Bridgewater Associates is one of the world’s largest hedge funds serving institutional clients including retirement funds, non-profit organizations, foundations, governments and central banks around the world.
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