US Government May Ban Bitcoin, Billionaire Ray Dalio Says

Ray Dalio said that the US government could ban Bitcoin, just as it did to gold in the 1930s.

March 25, 2021 | AtoZ MarketsAs Bitcoin’s correction deepens, so does fear, uncertainty and anxiety. Billionaire hedge fund manager Ray Dalio heightened this concern further.

In an interview with Yahoo Finance on March 24 , Dalio, founder of $150 billion hedge fund Bridgewater Associates, said that the US government could ban Bitcoin, just as it did to gold in the 1930s.

Dalio noted that the US government at that time prohibited gold from competing with fiat money, as they did not want it to be a means of storage of wealth.

They don’t want other currencies to operate or compete, as things can get out of control. Therefore, I think it is extremely possible, under certain circumstances, to be banned just as gold was banned. “

Saying that Bitcoin is a huge invention and comparing it with gold, Dalio pointed out that the Indian government is already trying to ban Bitcoin and the trading of cryptocurrencies in general. Dalio said he is not an expert on the subject, but he thinks cryptocurrencies can be tracked and the state can understand who is transacting.

On the other hand, Dalio claimed that BTC passed the test as an asset class.

Bitcoin has proven itself in the last 10 years, it has never been hacked. In a way, it became an alternative wealth storage tool. It’s like digital cash. ”

Dalio earlier said that the US government, preparing for “shocking” tax changes to resolve the national debt crisis, could target those who left the dollar for Bitcoin.

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