{"id":12485,"date":"2022-05-24T20:22:28","date_gmt":"2022-05-24T20:22:28","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/billionaire-ray-dalio-speaks-in-davos-says-blockchain-is-great-but-lets-call-it-digital-gold-bitcoin-news\/"},"modified":"2022-05-24T20:22:28","modified_gmt":"2022-05-24T20:22:28","slug":"billionaire-ray-dalio-speaks-in-davos-says-blockchain-is-great-but-lets-call-it-digital-gold-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/billionaire-ray-dalio-speaks-in-davos-says-blockchain-is-great-but-lets-call-it-digital-gold-bitcoin-news\/","title":{"rendered":"Billionaire Ray Dalio Speaks in Davos \u2014 Says ‘Blockchain Is Great, but Let\u2019s Call It Digital Gold’ \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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This week the world has been talking about the World Economic Forum (WEF) meeting in Davos, Switzerland, which started on May 22 and ends on May 26. At the event, Bridgewater Associates founder Ray Dalio spoke about today\u2019s economy, the Federal Reserve, cash, and cryptocurrencies. Dalio noted at the WEF conference that he believes blockchain is great, but says \u201clet\u2019s call it a digital gold.\u201d <\/strong><\/p>\n

Billionaire Hedge Fund Manager Ray Dalio Says \u2018There\u2019s Going to Be a Supply and Demand Problem That Produces a Squeeze\u2019<\/h2>\n

During the first week of February, Bitcoin.com News reported<\/a> on the billionaire Ray Dalio<\/a>, the founder of the world\u2019s largest hedge fund, Bridgewater Associates. At the time, Dalio spoke about the future of money and the investor said that crypto will be \u201coutlawed, probably by different governments.\u201d Currently, Dalio is in Davos, Switzerland, with the rest of the world\u2019s government officials, economists, and financial big-wigs. The Bridgewater Associates founder spoke in an interview with CNBC\u2019s Andrew Ross Sorkin on the broadcast Squawk Box.<\/p>\n

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While attending the World Economic Forum event in Davos, Bridgewater Associates founder Ray Dalio spoke about the Federal Reserve, cash, and cryptocurrencies.<\/figcaption><\/figure>\n

Once again, Dalio spoke on the future of money and the U.S. central bank\u2019s next monetary policies. The hedge fund executive believes the Fed has nothing left to do but sell. \u201cThe Federal Reserve is going to sell, individuals are selling, foreigners are selling, and the U.S. government is selling because it has to fund its deficit,\u201d an excerpt from Dalio\u2019s interview notes. \u201cSo there\u2019s going to be a supply\/demand problem, that means that it produces a squeeze,\u201d he added.<\/p>\n

Dalio\u2019s outlook is gloomy and he\u2019s not the only one in Davos at the WEF meeting that believes the global economy faces multiple threats. Reporting from the WEF multi-day conference, Reuters reporter Dan Burns highlighted<\/a> that specific threats like the Ukraine-Russia war, food shortages, and the recent Covid-19 lockdowns in China have \u201cno clear end\u201d and \u201chave compounded the gloom.\u201d Germany\u2019s vice-chancellor Robert Habeck agrees and said:<\/p>\n

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We have at least four crises, which are interwoven. We have high inflation \u2026 we have an energy crisis\u2026 we have food poverty, and we have a climate crisis. And we can\u2019t solve the problems if we concentrate on only one of the crises.<\/p>\n<\/blockquote>\n

Dalio Discusses Bitcoin\u2019s \u2018Little Spot Relative to Gold\u2019<\/h2>\n

The Bridgewater Associates founder explained at the WEF event that right now cash is trash. \u201cOf course, cash is still trash,\u201d Dalio told the CNBC reporter. \u201cI\u2019m asking you, do you know how fast you\u2019re losing buying power in cash?\u201d the hedge fund executive asked. Dalio further elaborated by explaining what he means by saying cash is trash.<\/p>\n

\u201cWhen I say cash is trash, what I mean is all currencies in [relation] to the euro, in relationship to the yen,\u201d Dalio stressed. \u201cAll of those currencies like in the 1930s will be currencies that will go down in [relation] to goods and services.\u201d In addition to speaking about currencies and cash in Davos, Dalio talked about cryptocurriences being a form of digital gold.<\/p>\n

\u201cCryptocurrencies in particular \u2013 I think blockchain\u2019s great,\u201d Dalio said to the host of CNBC\u2019s broadcast Squawk Box. \u201cBut let\u2019s call it a digital gold. I think a digital gold, which would be a bitcoin kind of thing, is something that\u2014probably in the interest of diversification of finding an alternative to gold\u2014has a little spot relative to gold and then relative to other assets.\u201d<\/p>\n

While its been known since May 2021 that Dalio had personally invested<\/a> in bitcoin (BTC<\/a>), four sources explained<\/a> to the crypto reporters Danny Nelson and Ian Allison in March 2021, that Bridgewater Associates<\/a> would use a \u201csmall slug of their fund deployed directly into digital assets.\u201d That same month, the billionaire investor and hedge fund manager told the world<\/a> that he thinks governments may apply taxes to cryptocurrencies that \u201ccould be more shocking than expected.\u201d<\/p>\n

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Andrew Ross Sorkin<\/a>, Bitcoin regulation<\/a>, bridgewater associates<\/a>, cnbc<\/a>, CNBC’s Squawkbox<\/a>, Crypto regulation<\/a>, crypto success<\/a>, Cryptocurrency regulation<\/a>, Dan Burns<\/a>, digital gold<\/a>, Fed<\/a>, Government<\/a>, Ray Dalio<\/a>, Reuters reporter<\/a>, Robert Habeck<\/a>, WEF<\/a>, World Economic Forum<\/a><\/div>\n<\/div>\n

What do you think about Ray Dalio\u2019s opinions from Davos? What do you think about the hedge fund manager\u2019s thoughts about cryptocurrencies? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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