Tuesday, February 20

Bitcoin has proven itself, says billionaire Ray Dalio

Ray Dalio, billionaire founder of Bridgewater Associates, said last Saturday (25) that Bitcoin has already proven itself, having never been hacked in its 11 years of existence and today is the most important issue for many.

Although he has criticized Bitcoin in the past, Dalio was humbled when talking to others about some points that were not so clear to him. Months later, he admitted to having bitcoin in his wallet.

Year after year, Bitcoin gains more notoriety and adoption, proving to be a form of money that is here to stay, being a strong competitor to the fiat currencies that until then were monopolies in this sector.

Billionaire Admitted To Be Wrong About Bitcoin

Today, Ray Dalio is among the 100 richest people in the world with his 20 billion dollar fortune. Perhaps the main reason for this is his humility in continuing to learn and not having a closed view of the world.

In late 2020, the billionaire admitted he could be wrong about the world’s largest cryptocurrency, Bitcoin, and said he would be happy to be corrected, listing his thoughts on the currency.

Months later, Ray Dalio revealed that he had bitcoins in his portfolio, despite not revealing the amount and date of acquisition. Even so, Dalio is still afraid of the government’s actions.

Bitcoin has already proven itself, says Ray Dalio

This past month, the billionaire told Yahoo Finance that cryptocurrencies are impressive, showing his respect for a decentralized project that struggles against the bureaucratization of governments and yet has been alive for more than a decade.

In his last speech, published on Christmas Day on the Lex Fridman, Ray Dalio returned to praise Bitcoin, stating that it has already proven itself after so many years without problems on its network.

“The evolution of Bitcoin over the years is one of the things that influenced changes in my view. He’s already proven himself. It hasn’t been hacked, it’s operated amazingly over those 11 years, and it’s probably the most interesting topic among many people. It was used and now has the status of having imputed value.”

With each passing year, Bitcoin is gaining more notoriety for both its cybersecurity and government censorship. Furthermore, its increasing adoption is also a strong indication that people are tired of the monetary policies of states that just devalue everyone’s money.