Bitcoin is the gold of the young generation

Ray Dalio, one of the most successful managers of all time, said in his recent interview with MarketWatch that Bitcoin is the gold of the younger generation:

The former crypto-skeptic reiterates that the greatest cryptocurrency of value implies:

It is almost the younger generation’s gold alternative and has no intrinsic value, but it has latent value and therefore some value.

The head of Bridgewater Associates, the world’s largest hedge fund, believes that Bitcoin has not been hacked and has gained significant acceptance as a major achievement.

At the same time, Dalio is sticking to his prediction that Bitcoin will be banned by the government if it becomes a serious alternative to fiat money, but doesn’t believe that the world’s largest cryptocurrency will be banned.

In March, Dalio suggested that governments could ban capital inflows into cryptocurrencies.

The billionaire believes that the US government can ban Bitcoin just as Franklin D. Roosevelt banned gold and confiscated its citizens’ assets in 1933. The presidential ordinance was not repealed until 1974.

He again advocates diversification, arguing that allocating a small percentage of his portfolio to Bitcoin will help protect it.

 Dalio first announced that it had bought a small amount of Bitcoin in May.

Prominent American investors still prefer gold over Bitcoin as BTC has existed as a store of value for thousands of years.

Dalio told MarketWatch that money printing has the potential to cause more inflation even though the Federal Reserve is running out of its bond-buying program:

It would be bad for the economy, politics and markets if they tried to correct this with rising interest rates. So you will likely need to print more money, and that will result in higher currency inflation.