Dalio: The administrators will finally "reach" Bitcoin.

Ray Dalio, founder of Bridgewater Associates, the world's largest investor, believes that if Bitcoin succeeds in making sense, regulators will eventually regulate the cryptocurrency.

Dalio said on Wednesday: “If (Bitcoin) is successful in the end, I think they (the authorities) are going to kill him or try to kill him. I think the authorities are going to kill Bitcoin because there is a way to kill it. ".

The US administration has tightened its grip on the cryptocurrency space as market sentiment continues to cause widespread concern. U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said on Tuesday that the SEC has been working overtime to develop procedures to monitor thousands of new digital assets and digital assets to protect investors fellows.

Despite trading volatility, the value of Bitcoin has more than tripled in the past 12 months, reaching $ 48,000 on Wednesday. Earlier this year, the cryptocurrency reached over $ 60,000.

In June of this year, El Salvador became the first country to adopt Bitcoin as a viable option. At the same time, India must pass a law banning cryptocurrencies and penalizing minors and traders.

Dalio said that Bitcoin has no value, which means the assets do not have significant value and target value.

“Historically, there are a lot of things that are worthless but worth seeing, so they're hot and ultimately cold. It can do it all. You just need to know it. is what it is. It can be done. Dutch tulips. "says Dalio.

However, Dalio says Bitcoin is a good alternative to cash. Dalio now has a few bitcoins, but a small fraction of his bitcoin is gold in his case.

“I think it's worth considering all the options for cash and other assets,” said Dalio. “Bitcoin is possible. I have some value for bitcoin,” said Dalio. "After the test of time, Bitcoin has grown. It is. A very successful achievement."

Source: US Sina Stocks

Ark Invest Founder and CEO Cathie Wood reiterated her prediction that Bitcoin would eventually hit over $ 500,000 and said that despite the rise in value after the spread, they have seen a long decline.

Chairman Wood has explained the reason for the recent sale of 180,000 Tesla shares (TSLA.US) as a "decision to reduce the number of shares due to a 'tactical move' in recent trading decisions."

Wood said he sold Tesla shares to raise funds to buy UiPath (PATH.US) shares. After the sale, Wood said Tesla still had the largest stake in the record.

Based on speculation that companies will start increasing their holdings of bitcoin and other cryptocurrencies, Wood estimates that bitcoin will exceed $ 500,000. He expects the company to extend some of its savings to cryptocurrency.

Wood said the recent rise in inflation expectations was due to contagion after global markets reopened, causing a short-lived slowdown. In the long run, we expect prices to come down.

“If the supply chain and other issues are resolved, it could be a very deflationary world,” he said.

Wood predicts "an incredible level of chaos" in the market in the future. He explained that the impact was due to stress from the long-term sense of deflation and recent economic growth.