Billionaire investor and founder of investment firm Bridgewater Associates Ray Dalio said in a recent interview that he believes in bitcoin more and more, but admits that the authorities of large countries can kill cryptocurrency.
Ray Dalio warned investors about the dangers of keeping their profits in cash. Referring to the popular adage Money is trash, Dalio recognizes the value of bitcoins and other assets as a store of value. He said that all alternatives to cash and traditional financial assets are worth considering.
However, the Bridgewater founder believes that regulators may end up trying to stop Bitcoin's rise if it becomes too successful.
I think in the end, if Bitcoin becomes really successful, they will try to kill it. Yes, I think they will kill him because they have different ways to do it. - Ray Dalio
Bitcoin was recently recognized at the state level in El Salvador. Dalio argues that this Central American country cannot provide a sufficient counterbalance to the actions of India and China against bitcoin. The Asian giants have passed a law banning all commercial activities related to bitcoin and cryptocurrencies. China has gone so far as to ban the entire mining sector, leading to a new cryptocurrency sell-off.