Ray Dalio Says "Bitcoin Is a Bubble" = The Next Jamie Dim(on)?
Ray Dalio Says...
Yeah, you know it all already! Another one of the old world's biggest hedge fund managers has joined Jamie Dim(on) and Peter Schiff in declaring that "Bitcoin is a bubble". Here's what he said:
"It's not an effective storehold of wealth because it has volatility to it, unlike gold. Bitcoin is a highly speculative market. Bitcoin is a bubble."
I find this one particularly interesting because I'm currently reading his book about Bridgewater Associates titled "Principles". To be fair to Ray, unlike his other counterparts, he does acknowledge that Bitcoin could become a currency, but that lack of transactions are holding it back, and also that the currency is highly speculative, which is why he believes it is a bubble.
So, obviously Dalio isn't quite as dim as Dimon, in fact he does what most others referring to it as a bubble fail to do; he at least gives a valid reason and doesn't default to "Tulip mania" (which is highly irrelevant).
The full article can be viewed here: https://www.coindesk.com/bridgewater-associates-head-says-bitcoin-bubble/
Meme created by @pathforger here
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I'm sure, like Dimon, he's into ETH based tokens.
Haha! Loving that comment @aarronlight!