Ray Dalio says bitcoin is the gold of the younger generation

 

In a recent interview with MarketWatch, head of Bridgewater Associates, the world’s largest hedge fund, Ray Dalio said bitcoin is the gold of the younger generation.

 

The former crypto skeptic reiterated that the largest cryptocurrency has an imputed value.

 

“It’s almost an alternative to gold for the younger generation, it has no intrinsic value, but it has an imputed value and therefore has some merit,” he said.

 

He believes that the fact that Bitcoin has not been hacked and has managed to achieve a significant level of adoption is an outstanding achievement.

 

At the same time, Dalio sticks to his prediction that Bitcoin will eventually be banned by the government if it becomes a serious alternative to paper money, but he does not believe that the largest cryptocurrency will eventually be banned worldwide.

 

Dalio also added that the printing of money will drive inflation up, even as the Federal Reserve is phasing out its bond buying program.

 

“It would be bad for the economy, politics and markets if they tried to fix this by letting interest rates rise. So they will probably have to print more money, which will cause even more monetary inflation, ”he added.