Billionaire Ray Dalio Speaks in Davos — Says ‘Blockchain Is Great, but Let’s Call It Digital Gold’

This week the satellite has been talking astir the World Economic Forum (WEF) gathering successful Davos, Switzerland, which started connected May 22 and ends connected May 26. At the event, Bridgewater Associates laminitis Ray Dalio spoke astir today’s economy, the Federal Reserve, cash, and cryptocurrencies. Dalio noted astatine the WEF league that helium believes blockchain is great, but says “let’s telephone it a integer gold.”

Billionaire Hedge Fund Manager Ray Dalio Says ‘There’s Going to Be a Supply and Demand Problem That Produces a Squeeze’

During the archetypal week of February, Bitcoin.com News reported connected the billionaire Ray Dalio, the laminitis of the world’s largest hedge fund, Bridgewater Associates. At the time, Dalio spoke astir the aboriginal of wealth and the capitalist said that crypto volition beryllium “outlawed, astir apt by antithetic governments.” Currently, Dalio is successful Davos, Switzerland, with the remainder of the world’s authorities officials, economists, and fiscal big-wigs. The Bridgewater Associates laminitis spoke successful an interrogation with CNBC’s Andrew Ross Sorkin connected the broadcast Squawk Box.

While attending the World Economic Forum lawsuit successful Davos, Bridgewater Associates laminitis Ray Dalio spoke astir the Federal Reserve, cash, and cryptocurrencies.

Once again, Dalio spoke connected the aboriginal of wealth and the U.S. cardinal bank’s adjacent monetary policies. The hedge money enforcement believes the Fed has thing near to bash but sell. “The Federal Reserve is going to sell, individuals are selling, foreigners are selling, and the U.S. authorities is selling due to the fact that it has to money its deficit,” an excerpt from Dalio’s interrogation notes. “So there’s going to beryllium a supply/demand problem, that means that it produces a squeeze,” helium added.

Dalio’s outlook is gloomy and he’s not the lone 1 successful Davos astatine the WEF gathering that believes the planetary system faces aggregate threats. Reporting from the WEF multi-day conference, Reuters newsman Dan Burns highlighted that circumstantial threats similar the Ukraine-Russia war, nutrient shortages, and the caller Covid-19 lockdowns successful China person “no wide end” and “have compounded the gloom.” Germany’s vice-chancellor Robert Habeck agrees and said:

We person astatine slightest 4 crises, which are interwoven. We person precocious ostentation … we person an vigor crisis… we person nutrient poverty, and we person a clime crisis. And we can’t lick the problems if we ore connected lone 1 of the crises.

Dalio Discusses Bitcoin’s ‘Little Spot Relative to Gold’

The Bridgewater Associates laminitis explained astatine the WEF lawsuit that close present currency is trash. “Of course, currency is inactive trash,” Dalio told the CNBC reporter. “I’m asking you, bash you cognize however accelerated you’re losing buying powerfulness successful cash?” the hedge money enforcement asked. Dalio further elaborated by explaining what helium means by saying currency is trash.

“When I accidental currency is trash, what I mean is each currencies successful [relation] to the euro, successful narration to the yen,” Dalio stressed. “All of those currencies similar successful the 1930s volition beryllium currencies that volition spell down successful [relation] to goods and services.” In summation to speaking astir currencies and currency successful Davos, Dalio talked astir cryptocurriences being a signifier of integer gold.

“Cryptocurrencies successful peculiar – I deliberation blockchain’s great,” Dalio said to the big of CNBC’s broadcast Squawk Box. “But let’s telephone it a integer gold. I deliberation a integer gold, which would beryllium a bitcoin benignant of thing, is thing that—probably successful the involvement of diversification of uncovering an alternate to gold—has a small spot comparative to golden and past comparative to different assets.”

While its been known since May 2021 that Dalio had personally invested successful bitcoin (BTC), 4 sources explained to the crypto reporters Danny Nelson and Ian Allison successful March 2021, that Bridgewater Associates would usage a “small slug of their money deployed straight into integer assets.” That aforesaid month, the billionaire capitalist and hedge money manager told the world that helium thinks governments whitethorn use taxes to cryptocurrencies that “could beryllium much shocking than expected.”

What bash you deliberation astir Ray Dalio’s opinions from Davos? What bash you deliberation astir the hedge money manager’s thoughts astir cryptocurrencies? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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