Hedge fund billionaire Ray Dalio: “I have more crypto than Gold”

The capitalist besides said Bitcoin is simply a bully diversification asset, though regulators could inactive “kill” it

Billionaire capitalist Ray Dalio is 1 of a increasing fig of seasoned investors to look to cryptocurrency arsenic a caller concern plus class.

The American capitalist told an assemblage astatine this week's SALT league that his portfolio included much crypto assets than it did Gold, according to a Reuters report.

While speaking astatine the league connected Wednesday, the billionaire urged attendees to diversify their investments, singling retired crypto arsenic a large plus successful this respect. He told the league that investors should endeavour to person their portfolios arsenic diversified arsenic imaginable crossed galore plus classes.

The 72-year-old capitalist besides revealed that crypto — particularly Bitcoin — represented a bully anticipation erstwhile it comes to alternatives to cash. Although helium did not specifically sanction each the crypto assets helium holds, helium noted that Bitcoin was among them.

Speaking to CNBC astatine the aforesaid conference, Dalio said Bitcoin had accomplished a batch since its inception. However, helium besides warned that cryptocurrency and the broader marketplace inactive look large hurdles successful the quest for mainstream adoption.

According to him, regulators could look to "kill" Bitcoin if the cryptocurrency did execute mainstream success.

"… I deliberation they volition termination it due to the fact that they person ways of sidesplitting it," the hedge money billionaire told CNBC Squawk Box.

Dalio besides mentioned regulatory crackdowns successful China and India, noting that the 2 countries were trying to get escaped of crypto. The US, connected the different hand, could inactive extremity up controlling Bitcoin contempt its speech of regulation. And these developments were contempt El Salvador's adoption of BTC arsenic ineligible tender, helium told Squawk Box anchor Andrew Ross Sorkin.

Dalio founded Bridgewater Associates, the world's largest hedge fund, successful 1975 successful New York and is simply a highly respected dependable successful the concern world.