Cryptocurrencies
Ray Dalio Calls Bitcoin ‘One Hell of an Invention,’ Considers It for New Funds
- Firm is looking at cryptocurrencies for two new funds
- Sees digital assets as having option-like loss potential
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Bridgewater Associates founder Ray Dalio said Bitcoin is “one hell of an invention” and he’s considering cryptocurrencies as investments for new funds offering clients protection against the debasement of fiat money.
“To have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly gaining popularity as both a type of money and a storehold of wealth is an amazing accomplishment,” Dalio wrote in a note to clients and later posted on Bridgewater’s website. “There aren’t many alternative gold-like assets at this time of rising need for them.”