During a recent appearance at CoinDesk’s Consensus conference, hedge fund manager Ray Dalio revealed that he had some Bitcoin in his portfolio.
Although the billionaire did not state the amount of Bitcoin in his portfolio, he explicitly noted that he would rather own the leading cryptocurrency than government bonds. According to him:
The more we create savings in it, the more you might say, I'd rather have Bitcoin than the bond. Personally, I'd rather Bitcoin than a bond.
Dalio is well-known for his “Bitcoin versus the government” crusade. He had claimed on multiple occasions that governments would not allow Bitcoin to succeed.
Although Dalio was one of Bitcoin’s early critics, it does not come as a surprise that he has made a U-turn. Within the past year, Bitcoin has welcomed investments from corporate behemoths, including Tesla. Back in April, Dalio said at Bitcoin Conference that the digital asset had proven itself.
As always, Dalio was quick to warn crypto investors of an impending regulatory crackdown on digital assets. He explained that Bitcoin’s greatest undoing might be its own success.
As it becomes a bigger deal and more of a threat...they lose control over that, and that's an existential risk.