Billionaire Ray Dalio Reveals Bitcoin Investment But Warns Of Regulation Rocking Crypto Markets
Billionaire Ray Dalio, who founded the world’s largest hedge fund, disclosed at a conference Monday that he owns "some” bitcoin and called the cryptocurrency a better inflation hedge than bonds—marking a notable pivot for the longtime bitcoin skeptic as the market rebounds from a $1.3 trillion crash after climbing 10-fold and adding nearly $2.4 trillion in value over the past year.
Ray Dalio attends the Forbes 100th Anniversary Gala at Pier Sixty on Tuesday, Sept. 19, 2017, in New ... [+] York. (Photo by Andy Kropa/Invision/AP)
Speaking at CoinDesk’s annual Consensus conference on Monday, 71-year-old Dalio disclosed his bitcoin investment for the first time while discussing the inflationary concerns that have fueled bitcoin's resurgence and rattled stock markets in recent weeks.
“Personally, I’d rather have bitcoin than a bond” as an inflation hedge, Dalio said in the interview, which was pre-taped on May 7 as bitcoin prices, then about 15% below an April peak, struggled to pare back losses from a flash crash sparked by mining concerns.
