Billionaire Ray Dalio has spoken on the possibility of the government folding Bitcoin up in the future. This has been a topic of debate among Bitcoin lovers who are weighing the possibility of the government outlawing Bitcoin. This may either be done by creating strict policies or outrightly capitalizing on the downsides of Bitcoin and making it a reason to suppress the asset.
Speaking to Yahoo Finance, Dalio the founder of Bridgewater Associates, a hedge fund that is worth $150 billion, explained that at the core of every country’s guidelines, is the politics of exerting control over the monetary system, in order to keep the competition at bay as the situation can easily become unfavorable for them.
He further references the situation with the U.S government and gold in the past, back when the government criminalized the private ownership of gold. As referenced in his book “The Changing World Order,” he writes that the “government leaders didn’t want gold to compete with money and credit as a storehold of wealth.”
In his words :
“Every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing, because things can get out of control. So I think that it would be very likely that you will have it under a certain set of circumstances outlawed the way gold was outlawed.”
He admits that he is uncertain on how the government intends to go about it, but that it is possible …
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