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It seems like seeing the shadow of gold in Bitcoin, Dalio points out that "Bitcoin may also be declared illegal by various governments." He states that any government wants to monopolize the currency supply and does not want other investment products to share its unique status. Dalio says:
"They do not want other funds to continue to operate or participate in competition because things could get out of control. So, I think, in certain circumstances, Bitcoin is likely to be banned, much like gold."
In fact, before Dalio made the above remarks, India is considering implementing the world's strictest "cryptocurrency ban," prohibiting all citizens from trading, issuing, holding, mining, and transferring cryptocurrency domestically. Dalio suggests that once banned by the government, the demand for Bitcoin is likely to shrink significantly.
However, Dalio also adds that although he is not an expert, he is confident that "people are to some extent under the surveillance of the government" and believes that it is difficult for cryptocurrencies to bypass government scrutiny. "Governments can know who is using Bitcoin," he says, "they have many ways."
At the same time, Dalio also states that Bitcoin has many advantages, enough to support it enduring a test of up to 10 years. He believes that "Bitcoin has proven itself in the past 10 years" and adds,
"It has not been hacked. So, overall, it has a strong operational foundation. It has built a large following. In a sense, it is another form of wealth reserve. It is like digital cash. These are all advantages." |
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Post time 29-12-2023 12:33:57