‘One hell of an invention’: Billionaire investor Ray Dalio eyes off Bitcoin

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Bridgewater Associates founder Ray Dalio said Bitcoin is “one hell of an invention” and he’s considering cryptocurrencies as investments for new funds offering clients protection against the debasement of fiat money.“To have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly gaining popularity as both a type of money and a storehold of wealth is an amazing accomplishment,” Dalio wrote in a note to clients and later posted on Bridgewater’s website. “There aren’t many alternative gold-like assets at this time of rising need for them.“Like others, however, Dalio said he found it challenging to put a value on digital assets. While Bitcoin has the potential to make investors “very rich” as well as “disrupt the existing monetary system,” there are risks. He said cryptocurrencies are probably vulnerable to being hacked and subject to…

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