It”™s official: Ray Dalio, founder and co-chairman of Westport’s Bridgewater Associates, has acknowledged the presence of bitcoin in his considerable portfolio.
In an interview with the news site CoinDesk.com, Dalio admitted, “I have some bitcoin.” While he didn”™t go into specifics on the quantity of his holding, he added, “Personally, I”™d rather have bitcoin than a bond” in facing an inflationary scenario.
Dalio had long been skeptical of the cryptocurrency, questioning its viability and volatility while speculating that it could be outlawed “if it becomes successful enough to compete and be threatening enough to currencies that governments control.”
Last December, he made his first on-the-record endorsement of bitcoin, telling a Reddit audience that it “could serve as a diversifier to gold and other such storehold of wealth assets.”
Still, Dalio continues to raise the possibility of government crackdowns on bitcoin if it is viewed as competition to national currencies.
“Bitcoin”™s greatest risk is its success,” he said.
Earlier this month, Bridgewater Chief Financial Officer John Dalby left the company to join NYDIG, a bitcoin custodian and prime brokerage.
