Billionaire Ray Dalio spoke of the possibility of the government falling back on Bitcoin in the future. This topic has sparked a huge debate among Bitcoin lovers in recent times, who are considering the possibility of the US government banning the digital currency. This can be done by creating strict policies or by openly capitalizing on the negative aspects of Bitcoin and making it a reason to suppress the asset.
Speaking to Yahoo Finance, theinvestor Dalio, the founder of Bridgewater Associates, a hedge fund worth $ 150 billion, explained that at the heart of every country's guidelines is the policy of exercising control over the monetary system in order to keep competition at bay. as the situation can easily become unfavorable for states.
It also refers to the situation of the US government and gold (in the past), when the government criminalized the private ownership of gold. As he also said in his book "The Changing World Order", he writes that "government leaders did not want gold to compete with money and credit as a store of wealth."
He says that all countries treasure their monopoly to control supply and demand. They don't want to compete with other funds or for them to work, because it doesn't take much for things to get out of their control. So he thinks that Bitcoin could be treated as an outlaw, as was done for gold at the time (before it became the largest holder in the world).
Bitcoin is gaining more and more supporters
However, he admits that he is uncertain how the US government intends to proceed, but that it is possible regardless of what happens in the near future. When asked if the government could do it, Dalio replied with a sharp yes.
And he also went into detail. Here are his words: “My understanding from people who are some kind of government oversight is yes, they can understand they can follow it. They can know who is doing it. I don't know, like, I'm not an expert on this. But, you know, there is a whole way, are they private wallets? Aren't they private wallets? How do you do this, this and the other? I suspect it would be very difficult to resist that kind of action ”.
For the Bitcoin ecosystem in general, its credibility has been reasserted over the past decade, but this in itself could be the same reason why Dalio thinks he's a big competitor for the government, although he still notes it's all a advantage for the resource.
As he said, over the past 10 years BTC has proven to be very good and has never been hacked. So in general it works. In addition, he has built an important following of followers. In a sense, in addition to being an alternative, it is also a store of wealth. It's like cash, but digital. And the advantages offered for this are manifold.