Dalio: government can ban bitcoin, seizing the opportunity to trade is "much more difficult than participating in the Olympics"

Plot: Ray Dalio, founder of Bridgewater Associates, the world's largest investor, reiterated his warnings that the government could ban bitcoin. Business opportunities are as dumb as beating Usain Bolt on a race track or Michael Phelps in a lake.

There are reports that Ray Dalio, founder of Bridgewater Associates, the world's largest investor, has once again warned that the government may ban bitcoin.

In an interview with Investors Podcast Network this week, Ray Dalio spoke about Bitcoin, claiming that it has not been stolen and has only faced competition from small businesses in the past ten years. . This gives it a deep reflection. However, Dalio warns that there are "legal issues" surrounding Bitcoin. “There are other advantages that threaten every government. Every government wants to make things better, especially if it's better. It is not easy to belittle. Historically, they [governments] have banned gold, silver, etc. You can restrict bitcoin. "

However, Dalio admits that a small amount of bitcoin in his case is used for diversity, stating, "I am a diversity expert."

Another legendary trader, Bill Miller, once suggested that people should own around 1% to 2% of Bitcoin in their data, Dalio said. However, the 72-year-old billionaire has said he doesn't think Bitcoin will replace gold as some have suggested, and he doesn't think BTC can reach numbers as high as $ 1 million. .

In contrast, Michael Saylor, CEO of Microstrategy, a big fan of Bitcoin, has repeatedly said that Bitcoin will replace gold. Management also boldly estimates that the value of BTC will reach $ 6 million.

Seizing the opportunity to exchange is more difficult than participating in the Olympics. "

The Federal Reserve's (Fed) interest rate complaint in March placed a heavy burden on the cryptocurrency market.

According to Push Terminal data, Bitcoin has fallen 11% since Jan. 1, from around $ 47,700 in early 2022 to a low of around $ 42,560 on Thursday, nearly $ 69,000 since November of the last year. It has fallen by 35%. According to the press, the cryptocurrency fear and desire index fell to 15 levels, reaching its lowest level since July 2021.

Warren Buffett once said: "Afraid when others are arrogant, and arrogant when others are afraid." This phrase has also been used by many investors in the crypto industry, and many traders believe that now is the time to add value. Galaxy Digital Holdings CEO Mike Novogratz told CNBC's "Squawk Box" that investors in the company will start buying crypto around the time of the 2022 sell-off, and that the recent slowdown is saving time.

But Ray Dalio said the timing of the deal was insane to beat Usain Bolt in the race and Michael Phelps in the pool. He said in an interview, "Don't try to make the trading time alone. You can lose. Competing in the market is more difficult than competing in the Olympics. A lot of people try it and give more to it."

Ray Dalio thinks that most people cannot predict which assets will rise and which fall and invest accordingly. Bridgewater spends "hundreds of millions of dollars" each year to gain the advantage. A trader will not bet.

Dalio, who has favored many avenues of international investment, reiterated his warnings about holding cash and contracts, citing the recent rise in US debt and interviewing finance. “If you buy a contract, the real benefit isn't good, but the money is worse than that. Don't look at the nominal benefits and think you're safe when you don't have security, ”he said.