He believes crypto can disrupt the way that many traditional companies operate, and he’s particularly excited about the potential of smart contracts.
Crypto not so much.” Now he believes Bitcoin is digital gold and crypto is money 2.0.
He raised concerns that it doesn’t make a great medium of exchange, is too volatile to act as a good store of wealth, and would likely be outlawed by governments if it becomes too successful.
Fast forward today.
Among other things, Dalio recognizes that it’s an “amazing accomplishment” to create a new type of digital money that’s worked for 10 years.
He also took positions in clean Bitcoin mining companies so he could be confident he only owns sustainably-mined coins.
But these three highlight some of the wide-ranging concerns and viewpoints about what is still a relatively new asset class.
As Dalio points out, it is a high-risk asset that could produce huge gains, but also could lose a lot of its value.
The high levels of risk is why investing in cryptocurrency is as much about your individual financial situation as it is about your belief about its potential.
It’s interesting to see how some of these financial gurus’ opinions have evolved.
To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2022.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.