Ray Dalio Says Regulators Will Kill Bitcoin
During a conversation with CNBC at the SALT Conference, Bridgewater Associates founder Ray Dalio made a bold prediction that regulators would eventually kill Bitcoin:
I think at the end of the day, if it's really successful, they will kill it. They will try to kill it, and I think that they will kill it because they have ways of killing it.
Dalio went on to mention that the largest cryptocurrency doesn't have any intrinsic value:
If you put cryptocurrencies, or let's say Bitcoin, in the historical perspective...there were so many things in the historical perspective that didn't have intrinsitc value.
While admitting that Bitcoin is "an amazing accomplishment for standing the test of time, Dalio noted that governments do not want it to succeed.
Dalio also downplayed the importance of El Salvador's recent foray into Bitcoin, pointing to the fact that China and India want to get rid of crypto.Source