Bridgewater Fund Dario: Bitcoin has made outstanding achievements! Is a golden substitute for young people

Time:2021-12-26 Source: 984 views Trending Copy share

In an interview with foreign media "Marketwauch" on the 15th, Ray Dalio, the founder of Bridgewater, the world’s largest hedge fund, said that he believes that blockchain technology will bring about a revolution, and Bitcoin has not only gained Outstanding achievements will also be the golden substitutes in the minds of young generations.

Worrying economic prospects, diversified allocation is the solution

Dario pointed out that one thing he learned during his investment career is that many things that he thought were impossible had happened before. For example, in August 1971, the United States broke the gold standard restriction on printing money. A similar situation also occurred in March 1933.

Di Rio said that he is currently actively studying three major global situations:

*Zero interest rate creates a lot of debt, and central banks print a lot of money to finance the debt

*The opposition between left and right, the gap between the rich and the poor, the Democratic and Republican parties are causing the biggest conflict in the United States since 1900 (the democratic system is idling)

*The rise of China challenges the world order established by the United States since World War II

Dario pointed out that this has caused the weakening of the leading countries in the United States, worsening economic prospects, rising inflation, and other issues that have also made the environment worse. Therefore, he called on people to understand the value of money: people think that the safest investment is cash, but They never considered the benefits of inflation.

Dario believes that countries now dare not easily tighten monetary policies (which will lead to asset decline and economic contraction), so they cannot easily cut off the flow of loose gold. In order to continue to obtain funding sources (cannot collect taxes, because the people will protest), all countries The central bank can only continue to print money, allowing assets to shrink in a relatively slow and painful manner.

Bitcoin is a golden alternative to the younger generation

Dario said that the central bank can print money at will, but people's living standards will not increase accordingly. Therefore, he called on investors to allocate four diversifications: currency diversification, asset class diversification, country diversification and industry diversification. , This naturally also includes cryptocurrency.

In this regard, Dario said: Hot money is chasing many things, which of course also includes cryptocurrency. Bitcoin has made outstanding achievements. He has never been hacked since he went online, and his mode of operation has never been changed. I believe that Blockchain technology will bring about a revolution and has won credibility.

Dario clarified that he is not a Bitcoin technical expert, but he believes that as part of the investment portfolio, Bitcoin is like a substitute for gold, just like gold itself is to fiat currency: in the worst case, investors should Start by protecting his assets and ensuring its diversified configuration. It (Bitcoin) is like a gold substitute for the young world. Maybe it has no intrinsic value, but it has an imputed value (Imputed value).

However, as previously reported by the currency circle, even though Dario has stated that he holds a small amount of Bitcoin, if he has to choose between gold and Bitcoin, he will still choose the more conservative gold. He believes that Bitcoin is still only a tool for diversifying investment portfolios, and if it develops to a certain extent, it will inevitably induce strong intervention by government agencies.

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