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August 9, 2022
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Bitcoin

Ray Dalio: US government may ban Bitcoin buying –

In my post on LinkedIn Bridgewater Associates founder, Ray Dalio, stated that the US government may ban capital flows into Bitcoin (BTC) and … gold.

Ray Dalio tells how the US government could hit Bitcoin

Dalio suggests authorities could hit BTC in a number of ways. They can, for example, apply “shocking” tax increases to manipulate flows to different asset classes in such a way:

(…) decision makers who are short of money will raise taxes and [jeśli] will not be satisfied with the capital flows from debt assets to other assets (…), they may introduce prohibitions on capital flows to other assets (eg gold, Bitcoin, etc.) (…).

Dalio also urges investors to invest their money with “Well diversified” a portfolio of assets with a higher rate of return.

The billionaire still maintains his opinion that today cash is … rubbish:

I believe that cash is and will remain cheesy (i.e. gives you profits that are significantly negative to inflation), so it pays to a) borrow cash rather than keep it as an asset, and b) buy debt-free investment assets with a higher rate of return.

Dalio predicts that the United States may soon become the country that is “inhospitable” for capitalists.

The obvious solution

In response to Dalio’s latest post, MicroStrategy CEO Michael Saylor stated that Bitcoin is “Obvious solution” bond issue, arguing that cryptocurrency is more “practical” than a diversified portfolio.

Even though Dalio, head of the world’s largest hedge fund, was skeptical about Bitcoin in the past, he eventually changed his mind about the flagship cryptocurrency. As reported by U.Today, he admitted that Bitcoin is “A good storehouse of wealth”, praising its resistance to the effects of the crisis.

According to him, it is an amazing invention: an electronic money system that can serve as a store of value and that becomes an alternative to gold. In his eyes, Bitcoin is a financial revolution commensurate with the Medici’s invention of a modern form of credit in the mid-fourteenth century. Like her, BTC is changing the financial world and can make cryptocurrency users rich.

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