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The billionaire Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund, said that the price of Bitcoin cannot reach a very high figure, such as $1 million. He explained: “Logically… its price is limited compared to other similar things.”
Ray Dalio on Bitcoin’s price trend
In an interview, Ray Dalio, the founder of Bridgewater Associates, shared his views on how high the price of Bitcoin might be. Lex Friedman, Released on Saturday. Dalio currently serves as Chairman and Co-Chief Investment Officer of Bridgewater Associates. His company’s clients include endowment funds, governments, foundations, pension funds and sovereign wealth funds.
The owner of Bridgewater was asked whether he thought the price of Bitcoin might reach a very high figure, such as $1 million. Dalio replied immediately:
I don’t think it is possible.
“The way I look at it is a certain number of [bitcoin] There is still a certain amount of gold,” he elaborated. “I will use gold as a benchmark,” he added, noting that the market value of Bitcoin is currently about $1 trillion, and the market value of the entire cryptocurrency market is about 2.2 trillion. Dollar.
“If you take the amount of gold that is not used for jewelry purposes and the gold that is not used by the central bank-I assume that Bitcoin will not be used for jewelry purposes or central bank purposes-then the amount of gold is about $5 trillion,” he explained. “So now if you have a portfolio of gold and bitcoin, its value is about 20% of the value of gold.”
The billionaire emphasized that he believes that the value of Bitcoin will not exceed gold. “I think 20% sounds the same,” he affirmed but admitted, “I really don’t know the correct answer.”
The Qiaoshui founder concluded: “If you use gold as a measure, it’s meaningless to be used more.” While acknowledging that he is “not sure about anything,” Dario said :
Logically speaking, in my opinion, its price is limited compared to other similar things.
Dario previously revealed that a small amount of cryptocurrency in his portfolio is used for diversification.Regarding Bitcoin, he Say: “I think it’s impressive that in the past 10, 11 years, this kind of programming still exists. It hasn’t been hacked, etc., and it has an adoption rate.”
Some people disagree with Dalio’s view on how high the price of Bitcoin can be.For example, Microstrategy CEO Michael Saylor predicts Bitcoin It continued to climb against the U.S. dollar.Executives who support Bitcoin specifically Mention It may reach US$600,000, and then reach US$6 million in the future.
What do you think of Ray Dalio’s predictions and comments? Please let us know in the comments section below.
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