Very rich person speculative stock investments supervisor Ray Dalio said that bitcoin resembles a “long-span alternative on an exceptionally obscure future”, hailing the advanced money as “one damnation of a development” and a storage facility of abundance.
The co-boss speculation official of Bridgewater Associates, Dalio said in a Linkedin post, “Bitcoin resembles a long-length choice on a profoundly obscure future that I could place a measure of cash in that I wouldn’t see any problems with losing around 80% of.”
Calling the cryptographic money “one hellfire of an advancement”, he said the individuals who made bitcoin had “made a spectacular showing” of supporting it and transforming it into an elective gold-like resource.
Bitcoin’s price surged 300 percent in 2020 and recently touched a record high of $42,000.
According to Dalio, the supply of bitcoin is known but the long-term demand is unknown.
“It seems to me that bitcoin has succeeded in crossing the line from being a highly speculative idea that could well not be around in short order to probably being around and probably having some value in the future. The big questions to me are what can it realistically be used for and what amount of demand will it have. Since the supply is known, one has to estimate the demand to estimate its price”.
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