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Ray Dalio: Bitcoin could be banned by governments as they did in the past with gold

Billionaire investor Ray Dalio said in a video interview on Wednesday (24) to the Yahoo Finance portal that bitcoin could be banned by governments, just like gold was in 1934 in the United States.

“Each country values ​​its monopoly on supply and demand control. They don’t want other types of money to be operating or competing, because things can get out of control. So I think it would be very likely to see this (bitcoin) banned, just like gold, ”he said.

Dalio, who is the founder of Bridgewater Associates – a $150 billion hedge fund – said that this scenario can already be seen in countries like India, which is considering proposing a law to criminalize the ownership and trading of cryptocurrencies:

“You are watching this issue arise in India today. The country is making a law on possession. Now, can they do that? Now we get into the details. My understanding of the people who are under government surveillance is that yes, they can understand that they can track. They can know who is dealing with this. I don’t know, like, I’m not an expert on that. ”

It was not the first time that Dalio said that countries could ban cryptocurrencies. In November 2020, he had already said in another interview that he believed in this possibility:

“They [the governments] will use every tooth they have to do this (ban), they will say that you cannot trade a Bitcoin, you cannot have it. So you would have to be like, a criminal. Am I going to be a criminal? They banned gold ”.

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  1. Pingback: SEC: It would be foolish for the government to ban bitcoin - Digest Time
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