Bitcoin continues to gain popularity these days, and the latest important name who addressed the king coin is billionaire hedge fund manager Ray Dalio.
He believes that Bitcoin is one hell of an invention that has the potential to become a privately held “storehold of wealth” asset just like gold.
It’s also important to note the fact that he has been a noted Bitcoin skeptic in the past.
Another issue worth mentioning is that recently, he published his opinions about the king coin, and he addressed both the risk and potential of BTC.
He also made sure to point out the fact that he is not a Bitcoin or crypto expert.
A growing need for assets that can be privately held
“There aren’t many alternative gold-like assets at this time of rising need for them (because of all the debt and money creations that are underway and will happen in the future). Because of what is going on in the world, besides there being a growing need for money or storehold of wealth assets that are limited in supply, there is also a growing need for assets that can be privately held,” he said.
He continued and explained that “Because there aren’t many of these gold-like storehold of wealth assets that can be held in privacy and because the sizes of their markets are relatively small, there exists the possibility that Bitcoin and its competitors can fill that growing need.”
He mentioned the fact that to him, it seems that Bitcoin managed to succeed in crossing the line from being a highly speculative idea that could well not be around in short order to being around and having some value in the future.
He also said that the government crackdown is a danger to the king coin.
Regarding the price of BTC, at the moment of writing this article, BTC is trading in the green, and the coin is priced $33,718.71.