Ray Dalio has been speaking things that could be perceived as anti and pro Bitcoin. And he has Bitcoin himself. While he acknowledged the uncertain fate or future of Bitcoin, he also admitted that having a certain percentage of your portfolio allocated to Bitcoin is also a reasonable thing. I don't think the man is particularly biased for or against it.
And I also largely agree when he distinguishes the technology from a certain crypto project; blockchain from DoggyStyle Coin, for example. We cannot just justify our investment in a certain shitcoin by citing the underlying technology that it uses.
Topic: Another story telling how billionaires hate bitcoin? - read over quick coffee. - page 3. (Read 326 times)
February 21, 2023, 08:26:11 PM
February 21, 2023, 07:18:53 PM
You know what's common with these billionaire critics? Pretty much all of them are in the United States. If you're in a country where your currency and currency restrictions are mostly great (at least compared to other countries), you tend to think that bitcoin is unnecessary. People in other shitty/tight countries would beg to differ though.
February 21, 2023, 06:43:50 PM
His views on the future amazed people compare to the Birkshire guys though but all of them look at the future still with gold.
Gold, silver, crypto none matters as long as you have so much wealth that you are able to give a share of it to the politicians and the law makers of a country. They are the one who decides your fate, make a thing legal and illegal. They don't put the tag for you but for their own interest. Crypto is a path to deny the orders they put on you and find your freedom.I need grocery items, let the market decides how much will be the price of the items and let me pay it with something that is decided by the market too. Bring the power back to the people.
February 21, 2023, 02:30:07 PM
He's an old guy just like Munger and Buffet but he at least took his time learning a bit about crypto. He may have meant those altcoins that are replaced all the time at the top of ranks back in the early days and then now can't be found on the top 100. But he missed seeing BTC be the top all the time.
His views on the future amazed people compare to the Birkshire guys though but all of them look at the future still with gold.
February 21, 2023, 01:18:22 PM
The billionaire Ray Dalio who is successful investor in the Uber, has recently been interviewed on a podcast and has mostly spoken negative about the bitcoin and it's investment.
The guy has mind set where he advices to keep blockchain and crypto currencies as different roads because one of them is technology while the others are just medium to invest your money. Basically what he suggest is: crypto currencies as an asset can be replaced by any other means of asset, for example a newer form of asset and thus there is no guarantee for it's long lasting existence.
According to him it would be better if all the crypto investors find another form of investment for secure future.
One of the weirdest point he was making is: Crypto do not replicate anything and thus they are "ineffective store of wealth"
This is not at all up to the point analysis and anyone would disagree about what this guy has said or trying to convince others. I have literally laughed about his analysis, because he is trying to segregate investment based on a technological advancement VS vehicles that run on it. I mean it is same thing as stating that you should not be investing into Dubai but you can invest in Oil which is getting dug out of their soil(!)
Ray Dalio
The guy has mind set where he advices to keep blockchain and crypto currencies as different roads because one of them is technology while the others are just medium to invest your money. Basically what he suggest is: crypto currencies as an asset can be replaced by any other means of asset, for example a newer form of asset and thus there is no guarantee for it's long lasting existence.
According to him it would be better if all the crypto investors find another form of investment for secure future.
One of the weirdest point he was making is: Crypto do not replicate anything and thus they are "ineffective store of wealth"
This is not at all up to the point analysis and anyone would disagree about what this guy has said or trying to convince others. I have literally laughed about his analysis, because he is trying to segregate investment based on a technological advancement VS vehicles that run on it. I mean it is same thing as stating that you should not be investing into Dubai but you can invest in Oil which is getting dug out of their soil(!)
Ray Dalio
Quote
During a recent appearance on William Green's "We Study Billionaires" podcast, hedge fund legend Ray Dalio expressed his thoughts on the hype surrounding cryptocurrencies, specifically Bitcoin.
The uber-succesful investor stated that he believes there is a distinction between blockchain technology and digital currencies. While the former is an excellent technology, the latter is not a good bet for investors, according to the billionaire. Dalio commented that digital currencies do not replicate anything, which makes them an ineffective store of wealth. He also pointed out that Bitcoin's total value is a fraction of Microsoft's stock. Hence, in Dalio's view, it is a preoccupation by people that is disproportionate to its true reality.
Dalio is convinced that in time, there will be better digital currencies, such as those that provide the equivalent of inflation and buying power. He noted that most currencies are debt instruments that offer poor returns relative to inflation, but a good digital currency is yet to be created.
The legendary investor acknowledged the technology behind cryptocurrencies, he believes that the hype surrounding them is disproportionate to their true value. As an experienced investor, he emphasizes the importance of looking for effective stores of wealth and being cautious when investing in digital currencies. The hedge fund manager also spoke about the current economic environment, saying that creating debt and money is becoming increasingly problematic.
He commented that people will need to look for alternative stores of wealth, and he believes that understanding the five key forces of the economy, including money and credit, can help investors navigate difficult situations.
Billionaire Ray Dalio Destroys Crypto HypeThe uber-succesful investor stated that he believes there is a distinction between blockchain technology and digital currencies. While the former is an excellent technology, the latter is not a good bet for investors, according to the billionaire. Dalio commented that digital currencies do not replicate anything, which makes them an ineffective store of wealth. He also pointed out that Bitcoin's total value is a fraction of Microsoft's stock. Hence, in Dalio's view, it is a preoccupation by people that is disproportionate to its true reality.
Dalio is convinced that in time, there will be better digital currencies, such as those that provide the equivalent of inflation and buying power. He noted that most currencies are debt instruments that offer poor returns relative to inflation, but a good digital currency is yet to be created.
The legendary investor acknowledged the technology behind cryptocurrencies, he believes that the hype surrounding them is disproportionate to their true value. As an experienced investor, he emphasizes the importance of looking for effective stores of wealth and being cautious when investing in digital currencies. The hedge fund manager also spoke about the current economic environment, saying that creating debt and money is becoming increasingly problematic.
He commented that people will need to look for alternative stores of wealth, and he believes that understanding the five key forces of the economy, including money and credit, can help investors navigate difficult situations.
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