Ray Dalio "High Possibility of Bitcoin Being Banned"

Ray Dalio [Image source= AP Yonhap News]

[Asia Economy Reporter Park Byung-hee] Ray Dalio, founder of Bridgewater Associates, the world's largest hedge fund, predicted that Bitcoin is likely to be banned.

Dalio explained that during President Franklin Roosevelt's administration, private gold ownership was made illegal, and Bitcoin could face a similar situation.

According to Yahoo Finance on the 24th (local time), Dalio mentioned the possibility of Bitcoin being banned in his upcoming book, The Changing World Order.

Dalio explained that the reason President Roosevelt banned gold ownership was because the government did not want gold to compete with the dollar as a means of storing wealth.

In a previous interview with Yahoo Finance, Dalio also said, "Every country places great importance on monopolizing control over the demand and supply of its currency. Countries do not want other currencies circulating and competing with their legal tender. Because everything could become uncontrollable. Therefore, I believe that in some circumstances, Bitcoin, like gold, will be banned."

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