Bridgewater Associates founder Ray Dalio warned that the biggest risk with cryptocurrencies is regulation As he added, no government wants to "have an alternative currency." Bridgewater Associates founder warns against regulation of cryptocurrency market Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, warned this week at the Wall Street Journal's "Future of Everything Festival" that the success of cryptocurrencies could r0start their destruction. Dalio is co-founder and chief investment officer of Bridgewater Associates, whose entity's clients include endowments, governments, foundations, pension funds and sovereign wealth funds. Asked about Bitcoin, he now said: The biggest risk associated with it is its success, because no government wants an alternative currency. Dalio has long expressed concern about regulators targeting the Bitcoin market and other cryptocurrencies if they see their monetary sovereignty threatened. His warning came just in time for regulators such as the Governor of the Bank of England (BOE) and the President of the European Central Bank (ECB) to speak out about BTC. BOE Governor Andrew Bailey said last week that Bitcoin has no real value and investors should be prepared to lose all their money if they invest in the asset class. ECB chief Christine Lagarde agreed, adding that cryptocurrencies are a money laundering risk. Meanwhile, the United States is reportedly working on cryptocurrency regulations. The Securities and Exchange Commission (SEC) has a new chairman, Gary Gensler, who stressed the importance of a regulatory framework and linking it to strong investor protections. The future is exciting Nevertheless, Dalio believes that the future of cryptocurrencies is "exciting and unknown". - Cryptocurrencies as a digital settlement mechanism are very exciting. Cryptocurrencies in terms of maintaining value are very interesting. They are likely to be important to us," he added. In March, Dalio said there was a "high probability" that the government would outlaw bitcoins, adding that authorities could also restrict investment in BTC by imposing "shocking" taxes on it. Nevertheless, he sees the cryptocurrency as an alternative investment to gold. Tags bitcoin Bridgewater Associates btc cryptocurrencies ray dalio
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