FX.co ★ Ray Dalio: Bitcoin is a good alternative to cash

Ray Dalio, the founder of the world's largest hedge fund Bridgewater Associates, said that if Bitcoin goes mainstream and succeeds, regulators will get rid of it or try to do it. He said this at the SALT conference on Wednesday in New York.

Dalio's comments came a day after SEC Chairman Gary Gensler told US lawmakers that there are gaps in the supervision of cryptocurrency regulation.

Speaking before the Senate Banking Committee, Gensler emphasized the SEC's goal of protecting investors and pointed to new problems arising from new technologies.

Gensler noted that there is currently not enough protection for investors in the field of crypto-financing, lending, and trade.

In regard to regulatory gaps, he said that there is clarity about what securities are, but there are gaps when it comes to coordination with banking agencies regarding stable coins and coordination with other agencies, including the CFTC, when it comes to regulating tokens and trading platforms.

On another note, Dalio believes that Bitcoin is a good alternative to cash, but he has more gold than bitcoins. He said that from the point of view of history, there are many things that have absolutely no intrinsic value but are perceived as value. He added that bitcoin is an opportunity, which let us assume that he has a certain amount of money in Bitcoins.

Bitcoin is worth considering all alternatives to cash as well as all alternatives to other financial assets.

After shortly declining below $ 30,000 in July, the main cryptocurrency seems to have found its lower limit above this level and is trading at $ 48,123 today, that is, 66.3% since this year began.