09-15-2021, 10:21 PM
- Ray Dalio said regulators would ultimately take control of bitcoin if the cryptocurrency gains mainstream success.
- “I think at the end of the day if it’s really successful, they will kill it and they will try to kill it. And I think they will kill it because they have ways of killing it,” Dalio said.
- The founder of the world’s largest hedge fund Bridgewater Associates still believes bitcoin makes a good alternative to cash.
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Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, believes regulators would ultimately take control of bitcoin if the cryptocurrency gains mainstream success.
“I think at the end of the day if it’s really successful, they will kill it and they will try to kill it. And I think they will kill it because they have ways of killing it,” Dalio told Andrew Ross Sorkin Wednesday on CNBC’s “Squawk Box” at the SALT conference in New York.
U.S. regulators have stepped up its oversight on the volatile cryptocurrency space as the wild rides in the speculative markets continued to grab attention. Securities and Exchange Commission Chairman Gary Gensler said Tuesday that Wall Street’s top regulator is working overtime to create a set of rules to protect investors through better regulation of the thousands of new digital assets and coins.
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