Bitcoin? For a famous manager, it is the gold of the younger generation

Ray Dalio, the head of Bridgewater Associates, the largest hedge fund in the world, believes that the fact that bitcoin has not been hacked and has managed to reach a significant level of adoption is a remarkable achievement and that bitcoin may in fact be a safe haven, the gold of the new generations. At the same time, Dalio also predicts that bitcoin will eventually be banned by the government if it emerges as a serious alternative to fiat money, but he doesn't believe the largest cryptocurrency will eventually be banned around the world. In March, Dalio suggested governments could potentially ban capital flows into cryptocurrencies. The billionaire believes the US government could outlaw Bitcoin in the same way that Franklin D Roosevelt banned gold in 1933 and moved to seize citizen holdings. The president's executive order was not repealed until 1974.

Once again Dalio has strongly advocated the need to diversify investments, arguing that allocating a small percentage of one's portfolio in bitcoin will help protect it. Dalio also announced for the first time that he had bought a small amount of bitcoin in May. The eminent American investor still prefers gold to bitcoin as the former has managed to survive as a store of value for thousands of years. Dalio finally concluded by saying that the constant printing of money could cause more inflation despite the Federal Reserve gradually phasing out its bond buying program.