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Billionaire Ray Dalio Sees Limitation on Bitcoin’s Price, Doubts BTC Can Reach $1 Million – Markets and Prices Bitcoin News

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December 28, 2021
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Billionaire Ray Dalio Sees Limitation on Bitcoin’s Price, Doubts BTC Can Reach $1 Million – Markets and Prices Bitcoin News
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Billionaire Ray Dalio Sees Limitation on Bitcoin's Price, Doubts BTC Can Reach $1 Million

Billionaire Ray Dalio, the founding father of the world’s largest hedge fund, Bridgewater Associates, says it’s not doable for the worth of bitcoin to succeed in a really excessive quantity, corresponding to $1 million. He defined: “Logically … there’s a limitation on its value in relationship to different issues prefer it.”

Ray Dalio on The place the Worth of Bitcoin Is Heading

Bridgewater Associates founder Ray Dalio shared his view on how excessive he thinks the worth of bitcoin might attain in an interview with Lex Fridman, revealed Saturday. Dalio at present serves as Bridgewater Associates’ chairman and co-chief funding officer. His agency’s purchasers embody endowments, governments, foundations, pensions, and sovereign wealth funds.

The Bridgewater boss was requested whether or not he thinks it’s doable for the worth of bitcoin to succeed in a really excessive quantity, corresponding to $1 million. Dalio promptly replied:

I don’t suppose that’s doable.

“The best way I have a look at it’s there’s a certain quantity of it [bitcoin] and there’s a certain quantity of gold,” he elaborated. “I’ll use gold as a benchmark,” he added, noting that the market cap of bitcoin is at present about $1 trillion and the market cap of the whole crypto market is about $2.2 trillion.

“When you take the amount of cash that’s in gold that isn’t used for jewellery functions and never utilized by central banks — and I assume bitcoin received’t be used for jewellery functions or central financial institution functions — that quantity of gold is about $5 trillion,” he defined. “So proper now in case you have been to have a portfolio that has gold and … bitcoin, it’s value about 20% of the worth of gold.”

The billionaire emphasised that he doesn’t suppose bitcoin will likely be value greater than gold. “I feel that 20% sounds form of about proper,” he affirmed however admitted, “I actually don’t know what the correct reply is.”

The Bridgewater founder concluded, “When you use gold as a measure, it simply is unnecessary that it’s going for use that rather more.” Whereas admitting that he’s “unsure about something,” Dalio stated:

Logically it appears to me that there’s a limitation on its value in relationship to different issues prefer it.

Dalio beforehand revealed that he has a small quantity of crypto in his portfolio for diversification. Concerning bitcoin, he said: “I feel it’s very spectacular that, for the final 10, 11 years, that programming has nonetheless held up. It hasn’t been hacked and so forth, and it has an adoption charge.”

Some individuals disagree with Dalio about how excessive the worth of bitcoin might attain. Microstrategy CEO Michael Saylor, for instance, expects the worth of BTC to maintain climbing towards the greenback. The professional-bitcoin government particularly mentioned that it might attain $600,000 after which $6 million a coin sooner or later.

What do you consider Ray Dalio’s prediction and feedback? Tell us within the feedback part under.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.




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