Ray Dalio is the founder of Bridgewater Associates, the largest hedge fund in the world. A real heavyweight in finance which has no problem expressing its opinion even on digital money.
The last one expressed, in particular, is bound to arouse considerable interest. According to him, in fact, the digital yuan could be so successful that it competes with Bitcoin.
The digital yuan could become the global reference currency
Ray Dalio's opinion is based on an assumption destined to startle not a few people, in the parts of Washington. According to which Beijing's Central Bank Digital Currency (CBDC) could become the global benchmark currency, practically taking over the role played by the dollar up to now.
All this despite the very low levels of confidentiality offered by cryptocurrencies proposed by central banks. On which, moreover, Dalio does not seem to have high expectations, believing that they cannot compete with Bitcoin. According to him, only the Chinese one would have the strength.
Bitcoin could be banned by governments
Ray Dalio's latest statements come after those relating to the possibility that governments could sooner or later come to the resolution of ban Bitcoin. Which, while not finding excessive credit in the financial circles, is still based on a not very well known historical precedent. Or the one who saw the Washington government impose a ban on private ownership of gold.
The precedent dates back to Great Depression following the collapse of the Wall Street Stock Exchange of 1929. And it should be kept in mind by investors. Precisely because it evokes a case similar to that represented today by the creation of Satoshi Nakamoto.
A well-founded fear or a remote hypothesis?
The Bitcoin statement was released by the founder of Bridgewater Associates during a interview granted to Andy Serwer, director of Yahoo Finance. And remember that the measure adopted at the time was motivated by a specific concern. That is, that precious gold could replace the dollar as a store of value.
It is in fact the same fear that has been brewing in some circles for some time now. In turn deriving from the inflationary spiral that was triggered by government aid to the real economy. The recently observed overheating of prices has indeed brought Ray Dalio's words back to the attention of financial circles, and has prompted many to believe the scenario he evoked is possible.
China's ban on Bitcoin trading
The concepts expressed by Dalio, however, seem anything but a simple scholastic hypothesis. In fact, over the last few months restrictions on digital money have begun in some countries. In which some have not hesitated to glimpse an attempt to limit its claims to autonomy.
Starting right from the China, where a ban on trading on Bitcoin was issued. While theIndia is studying the possibility of adopting ever tighter stakes against him. Not to mention the United States, where politics has not failed to highlight its annoyance with the cryptographic space. For example with the long series of pronouncements against diem, the Facebook cryptocurrency. Or through the words spoken by Janet Yellen against BTC. Accused of being a speculative tool and of dangerousness towards the environment.