- Dalio thinks there is a “good probability” that bitcoin may be banned in the US
- The hedge fund manager also pointed out India’s current situation.
- Outlawing bitcoin is similar to what happened with gold back in 1934.
Ray Dalio, the man behind the $150 billion hedge fund Bridgewater Associates had a recent interview with Yahoo. He said there is a “good probability” bitcoin may be outlawed similar to what happened with gold last 1934.
Dalio is referring to the 1934 Gold Reserve Act. This law mandated all monetary gold to be transferred to the U.S. Treasury. This is for the sole purpose that financial institutions and citizens are not allowed to hold gold.
Dalio further talked about why he thinks bitcoin can be banned in the US. The hedge fund manager explained,
This article was first published on coinquora.com
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