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Ray Dalio says Bitcoin is a 'long-duration option on a highly unknown future'

Ray Dalio also called Bitcoin 'one hell of an innovation' and said if the US government were to look into bitcoin, privacy will be hit. .

January 30, 2021 / 11:30 AM IST
Ray Dalio (File Photo)

Ray Dalio (File Photo)

Billionaire hedge fund manager Ray Dalio said that bitcoin looks like a "long-duration option on a highly unknown future", hailing the digital currency as "one hell of an innovation" and a storehouse of wealth.

The co-chief investment officer of Bridgewater Associates, Dalio said in a Linkedin post, "Bitcoin looks like a long-duration option on a highly unknown future that I could put an amount of money in that I wouldn't mind losing about 80 percent of."

Calling the cryptocurrency "one hell of an innovation", he said those who created bitcoin had "done a fabulous job" of sustaining it and turning it into an alternative gold-like asset.

Also read | Bitcoin part 1: Here's how the cryptocurrency works