TL;DR Breakdown
• Bitcoin increases its price after reaching its all-time high earlier in the year.
• Ray Dalio thinks that Bitcoin investors should be careful.
Ray Dalio, an American billionaire, thinks that Bitcoin could be the new digital gold in today’s financial market. However, when asked which one he would choose between gold and crypto, he chose gold without hesitation.
Dalio thinks that cryptocurrencies have a promising future, and he has ensured to invest in them when he can. Cryptocurrencies, like BTC, have seen a slight rise in value since last year. Bitcoin reached its all-time high in April, when it traded above $64000 but lost over 50 percent of its capital in May.
Bitcoin acquisition surged after hitting a new all-time high
The management company for fiduciary investments, Bridgewater Associates, has spoken repeatedly about crypto. He is even happy to say he has stored some Bitcoin within his investment portfolio. The investment company did not mention how many tokens it has in storage at the moment or if it has made a profit since its purchase.
But Bridgewater Associates is concerned about the BTC volatility in the market. Crypto, for many companies, has represented a financial option for a fiat market with many limits on a global level.
Ray Dalio disclosed in an interview with CNBC magazine that he currently held Bitcoin. The businessman suggested that he did not neessarily have huge holdings, but he had a good enough investment to take advantage of the crypto market. Dalio concluded the interview by saying that crypto could be the next virtual gold.
The cryptocurrencies purchase increased after they reached an all-time high for April-May. Although investors lost a lot of money, crypto improved its image after a rising period. Crypto like Ethereum, Dogecoin, Shiba Inu, and BTC Cash also gained prominence in crypto investments.
Crypto can be temporary investment – experts
The Co-Chief Investment Officer at Bridgewater Associates indicates that Bitcoin is only one major part of a powerful financial system. The executive thinks that crypto is like virtual wealth that all users should try. For the CEO, crypto turned out to be an investment surprise that took off in value after investing in it.
However, entrepreneurs like Ray Dalio think that investments in BTC are temporary. Dalio cautions investors to use the crypto carefully and use it with money they don’t need at the moment.
By May 2021, Dalio told a conference that crypto could be a coupon to avoid inflation. Crypto volatility aside, BTC may be a future investment success.
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