{"id":31967,"date":"2020-11-18T15:35:23","date_gmt":"2020-11-18T13:35:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31967"},"modified":"2025-08-28T06:21:32","modified_gmt":"2025-08-28T03:21:32","slug":"billionaire-ray-dalio-admits-he-may-have-been-wrong-about-bitcoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/billionaire-ray-dalio-admits-he-may-have-been-wrong-about-bitcoin\/","title":{"rendered":"Billionaire Ray Dalio admits he may have been wrong about Bitcoin"},"content":{"rendered":"<p>Ray Dalio, founder of Bridgewater Associates, admitted that he could be mistaken about Bitcoin. The billionaire posted a series of tweets amid <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-market-capitalization-hits-an-all-time-high-above-340-billion\">growth<\/a> in the price of the first cryptocurrency.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">I might be missing something about Bitcoin so I\u2019d love to be corrected. My problems with Bitcoin being an effective currency are simple\u2026 (1\/5)<\/p>\n<p>\u2014 Ray Dalio (@RayDalio) <a href=\"https:\/\/twitter.com\/RayDalio\/status\/1328731042690306048?ref_src=twsrc%5Etfw\">November 17, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>&#8220;I might be missing something about Bitcoin,&#8221; Dalio wrote.<\/p>\n<\/blockquote>\n<p>He attributed his scepticism about Bitcoin to its high volatility. In his view, the cryptocurrency cannot serve as a reserve currency for central banks or be used by large institutional investors.<\/p>\n<blockquote>\n<p>&#8220;If I\u2019m mistaken about this, I\u2019d like to be corrected,&#8221; added the founder of Bridgewater Associates.<\/p>\n<\/blockquote>\n<p>Users welcomed Dalio\u2019s willingness to admit a mistake. Meltem Demirors, CoinShares\u2019 chief strategy officer, called Bitcoin a savings technology.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">Ray \u2014 love the engagement! bitcoin is the separation of money and state. it\u2019s a savings technology at its core, and the bitcoin network is more like FedWire, but can be extended to cover payments with layer 2\u2019s like Lightning Network just like payments co\u2019s \/ banks do w\/ Fedwire.<\/p>\n<p>\u2014 Meltem Demirors (@Melt_Dem) <a href=\"https:\/\/twitter.com\/Melt_Dem\/status\/1328746974263308297?ref_src=twsrc%5Etfw\">November 17, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>BlockFi CEO Zac Prince noted Dalio\u2019s openness to learning. He published a series of messages in response to the billionaire\u2019s position.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">1\/ As a long time <a href=\"https:\/\/twitter.com\/RayDalio?ref_src=twsrc%5Etfw\">@RayDalio<\/a> fan, I\u2019ve been so disappointed with his take on <a href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&#038;ref_src=twsrc%5Etfw\">#btc<\/a>. It seems based on a recent tweet that he is open to learning, so I had to write down some concise and thoughtful notes for each of his \\&#8221;problems with Bitcoin being an effective currency\\&#8221;<\/p>\n<p>\u2014 Zac Prince (@BlockFiZac) <a href=\"https:\/\/twitter.com\/BlockFiZac\/status\/1328771397716471809?ref_src=twsrc%5Etfw\">November 17, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, the founder of Bridgewater Associates <a href=\"https:\/\/u1f987.com\/en\/news\/billionaire-ray-dalio-governments-will-choke-bitcoin-before-it-realises-its-potential\">stated<\/a> doubts about Bitcoin\u2019s prospects. In his view, if Bitcoin were to gain traction, governments would outlaw the digital asset.<\/p>\n<p>Subscribe to ForkLog\u2019s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ray Dalio, founder of Bridgewater Associates, admitted that he could be mistaken about Bitcoin. The billionaire posted a series of tweets amid a rise in the price of the first cryptocurrency.<\/p>\n","protected":false},"author":1,"featured_media":31968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1138,1732],"class_list":["post-31967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-opinions","tag-ray-dalio"],"aioseo_notices":[],"amp_enabled":true,"views":"42","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31967"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31967\/revisions"}],"predecessor-version":[{"id":31969,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31967\/revisions\/31969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31968"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}