Largest Hedge Fund Founder Thinks Bitcoin is a Bubble

"IT'S NOT AN EFFECTIVE STOREHOLD OF WEALTH BECAUSE IT HAS VOLATILITY TO IT, UNLIKE GOLD."

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Ray Dalio, Bridgewater Associates founder, provides his thoughts on bitcoin’s “highly speculative” currency market.


Ray Dalio, founder of the largest hedge fund in the world, thinks there is a bubble in the bitcoin market.

Dalio is the founder of Bridgewater Associates, which manages approximately $160 billion in assets.

Dailo, on CNBC’s Squawk Box, alleged bitcoin is “an effective store hold of wealth”, likening it disparagingly to gold.

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“It’s not an effective storehold of wealth because it has volatility to it, unlike gold. Bitcoin is a highly speculative market. Bitcoin is a bubble.”

Dalio claimed that a combination of market speculation and the deficiency of broader implementation is prohibiting the cryptocurrency.

“It’s a shame, it could be a currency. It could work, conceptually, but the amount of speculation that is going on and the lack of transactions [prevent it],”

His statements come as bitcoin recuperates from negative regulatory changes in China.

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