Billionaire Ray Dalio Sees Limitation on Bitcoin’s Price, Doubts BTC Can Reach $1 Million– Markets and Prices Bitcoin News

Billionaire Ray Dalio Sees Limitation on Bitcoin's Price, Doubts BTC Can Reach $1 Million

Billionaire Ray Dalio, the creator of the world’s biggest hedge fund, Bridgewater Associates, states it’s not possible for the cost of bitcoin to reach a really high number, such as $1 million. He discussed: “Logically … there’s a limitation on its price in relationship to other things like it.”

Ray Dalio on Where the Price of Bitcoin Is Heading

Bridgewater Associates creator Ray Dalio shared his view on how high he believes the cost of bitcoin might reach in an interview with Lex Fridman, releasedSaturday Dalio presently functions as Bridgewater Associates’ chairman and co-chief financial investment officer. His company’s customers consist of endowments, federal governments, structures, pensions, and sovereign wealth funds.

The Bridgewater employer was asked whether he believes it is possible for the cost of bitcoin to reach a really high number, such as $1 million. Dalio quickly responded:

I do not believe that’s possible.

“The way I look at it is there’s a certain amount of it [bitcoin] and there is a certain amount of gold,” he elaborated. “I’ll use gold as a benchmark,” he included, keeping in mind that the marketplace cap of bitcoin is presently about $1 trillion and the marketplace cap of the whole crypto market has to do with $2.2 trillion.

“If you take the amount of money that is in gold that is not used for jewelry purposes and not used by central banks — and I assume bitcoin won’t be used for jewelry purposes or central bank purposes — that amount of gold is about $5 trillion,” he discussed. “So right now if you were to have a portfolio that has gold and … bitcoin, it’s worth about 20% of the value of gold.”

The billionaire highlighted that he does not believe bitcoin will deserve more than gold. “I think that 20% sounds kind of about right,” he confessed however verified, “I really don’t know what the right answer is.”

The Bridgewater creator concluded, “If you use gold as a measure, it just makes no sense that it’s going to be used that much more.” While confessing that he is “not sure about anything,” Dalio stated:

Logically it appears to me that there’s a constraint on its cost in relationship to other things like it.

Dalio formerly exposed that he has a percentage of crypto in his portfolio for diversity. Regarding bitcoin, he stated: “I think it’s very impressive that, for the last 10, 11 years, that programming has still held up. It hasn’t been hacked and so on, and it has an adoption rate.”

Some individuals disagree with Dalio about how high the cost of bitcoin might reach. Microstrategy CEO Michael Saylor, for instance, anticipates the cost of BTC to keep climbing up versus the dollar. The pro-bitcoin executive particularly

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