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November 12th 2020
1 minute read
- The billionaire hedge fund manager, Ray Dalio doesn’t believe cryptocurrencies such as bitcoin are succeeding in the way that many people are thinking.
- In fact, he believes that authorities will come down hard on the world of crypto when they see “material“ growth.
In fact, he believes that authorities will come down hard on the world of crypto when they see “material“ growth.
Over the past few weeks, Bitcoin has been performing extremely well. Many people believe that this is due to the United States presidential election and maybe they are right but currently, bitcoin is priced at over $16,000.
The scepticism from the hedge fund manager ultimately comes down to the threat of regulation against them. if the world of crypto to see material growth over the next few weeks, it could more than likely increase their efforts to restrict them. He further said:
“I don’t think digital currencies will succeed in the way people hope they would.”
Many prominent government figures have also shared this sentiment though that Ray feels. Even the President of the United States, Donald Trump said last year that he wasn’t a fan of bitcoin.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
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