Bitcoin, the unloved of TradFi – The world of traditional finance, despite thegrowing interest in crypto shown by some institutional actors, sometimes seems reluctant to embrace the sector of blockchain. A few skeptics even continue to fail to see the world’s growing interest in Bitcoin and cryptocurrencies. Ray Dalio, founder of Bridgewater Associates, falls into this category. The latter again expressed recently that the king of cryptocurrencies was unable to resolve ailments of our current monetary system.
Bitcoin (BTC), a solution? Nay, according to Ray Dalio
Ray Dalio, leader of a renowned hedge fund, therefore gave his point of view on Bitcoin and the cryptocurrencies in the show Squawk Box from CNBC. He thinks BTC will only be not an effective way in a global monetary system. He also believes that the cryptography used to secure transactions makes the process too complicated for consumers. Thus, he said:
“I don’t think Bitcoin is a solution for efficient use of money. Governments will do their best to ensure that their currency is used. »
Dalio is not the ostrich for all that. He recognizes what the creation of Satoshi Nakamotobut he deplores the price volatility. As a result, the business leader explains that governments could be cautious about adopting a “unstable” currency.
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What about stablecoins then? Neither !
Same shock treatment for stablecoins, traditional finance also taking for its rank. Indexed on fiat currencies in distress supported by the States, stablecoins cannot, still according to our billionaire, not be a relevant solution to the current monetary system:
“We are in a world where money as we know it is in danger. We print too much, and it’s not just the United States. These are all reserve currencies. »
But what solutions to propose then? The businessman prefers the idea of a “inflation-linked coin”. It would guarantee purchasing power.
While Bitcoin and cryptocurrencies are gaining ground in some parts of the world, showing that minds are beginning to change and especially to understand the virtues of blockchain, some irreducible, like Ray Dalio, are stubborn. And yet, if you dig a little deeper, Bitcoin might not be so bad. Even if the billionaire prefers gold to the king of cryptoshe does not deny that he does not have one… Quite the contrary!
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