Advertising

Advertising

adzooma on n digital service
Gator Website Builder

Advertising

Bitcoin Is Being Killed by Regulators in Countries Like India and China, Says Billionaire Ray Dalio

Advertising

Share This

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on reddit
Share on tumblr
Share on telegram
Share on whatsapp
Share on skype
Share on email

Translate This Post In Your Native Language


American billionaire Ray Dalio expressed concerns about countries like India and China strangling the growth of world’s largest valued cryptocurrency, Bitcoin. Speaking to the press earlier this week, the 72-year-old former co-chief investment officer of the world’s largest hedge fund, Bridgewater Associates, said he fears that if Bitcoin gets more popular, global regulators will try to kill the cryptocurrency. The business tycoon also said that despite not being totally onboard with digital currencies in the past, he has converted a portion of his portfolio into Bitcoin.

As per a report by portal CryptoPotato, Dalio feels that countries like India and China are trying to “get rid” of cryptocurrencies. While China has banned trading and transacting in digital currencies, India remains shaky in its approach towards securing the future of cryptos.

“I think at the end of the day if it (Bitcoin) is really successful, they (global regulators) will kill it, and they will try to kill it,” the report quoted Dalio as saying.

The famous investor further highlighted that people must have enough diversification in their portfolios before entering the crypto space given the constant market uncertainty. He has laid emphasis on investors keeping finances safe in the form of gold or other highly valued commodities.

Despite anti-crypto voices like that of Christine Lagarde, the president of European Central Bank questioning the credibility of cryptocurrencies, the digital finance tokens are witnessing fandom among global traders and investors.

The billionaire investor had last month said that Bitcoin was akin to digital gold. A constant evaluation of your investments is the key, according to Dalio. He further suggested avoiding buying an asset like Bitcoin just because of its temporary boom. “Be careful about what you’re putting your money in⁠,” he said.

Earlier this month, El Salvador became the first country in the world to make Bitcoin a legal tender alongside the US dollar. 

The decision was welcomed by Ethereum co-founder Charles Hoskinson, who predicted that many more nations will follow the Central American country in adopting Bitcoin, which is the largest cryptocurrency in the world.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.


Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com.
More

Samsung Galaxy A73 Specifications Tipped to Include 108-Megapixel Rear Camera





Source link

Advertising

Share This

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on reddit
Share on tumblr
Share on telegram
Share on whatsapp
Share on skype
Share on email

Leave a Reply

Related Post

Advertising

error: Content is protected !!