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Ray Dalio wants to invest in crypto



 Even if Ray Dalio can't quite match Warren Buffet's cult status, his word carries weight. The 72-year-old American is the founder and now co-chief of Bridgewater Associates, the world's largest hedge fund. Bridgewater currently has approximately $150 billion in assets under management. These include money from numerous pension and insurance funds. According to reports from CoinDeskThe Connecticut investment firm plans to back an outside vehicle with exposure to cryptocurrencies. However, it is said that they do not want to invest directly in Bitcoin and Co. Other well-known crypto investors are already being discussed. However, the stake in crypto is said to be a very small portion of Bridgewater's investments, it said. However, the announcement could have a certain signal effect and attract more institutional funds into the crypto space.


Ray Dalio's path to bitcoin

Like so many, Ray Dalio wasn't exactly enthusiastic about cryptocurrencies at the beginning. It was only last year that his opinion on Bitcoin and Co. seemed to be slowly changing. First, in January 2021, he described BTC as a “damn good invention” in an internal memo . In an interview with the news channel  CNBC  last year, he even classified Bitcoin as an “alternative currency”, but backtracked a bit by emphasizing that regulation was too strictrepresents the greatest risk for the still young Internet currency. He is no longer alone in the world of hedge fund managers with his positive attitude towards crypto. Earlier this year, star investor Bill Miller revealed in an interview with Wealthtrack that he holds at least 50 percent of his wealth in Bitcoin-related assets. The investor bought his first Bitcoin in 2014 at a price of 200 US dollars. Personalities such as Paul Tudor Jones or Stanley Druckenmiller are now among the Bitcoin fans.


However, Dalio's optimism about Bitcoin may also be due to his dislike of the US dollar. In an interview at the World Economic Forum 2019 in Davos, Dalio attracted a lot of attention with the statement "Cash is trash". In his book "Big Debt Crisis" the 72-year-old deals with the rise and fall of the last three world reserve currencies. In Dalio's view, currency dominance moves in three cycles that can occur simultaneously. In the first cycle, debt and financial assets are created. In the subsequent second cycle, conflicts arise due to growing wealth differences, while in the third cycle an emerging major power challenges the existing reserve currency.

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