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Bridgewater’s Dalio: ‘I’d Love to Be Corrected’ on Bitcoin. Twitter Obliges
Bridgewater Associates founder Ray Dalio asked for and received a heaping dose of “radical candor” Tuesday.
Updated Sep 14, 2021, 10:32 a.m. Published Nov 17, 2020, 11:21 p.m.
Bridgewater Associates founder Ray Dalio asked for and received a heaping dose of “radical candor” Tuesday when he said he’d “love to be corrected” on the negative views about bitcoin he expressed last week.
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In a Twitter thread, the chairman of the world’s largest hedge fund said, “I might be missing something about bitcoin so I’d love to be corrected.”
From arguments of privacy to bitcoin’s use as a hedge against inflation, Dalio’s invitation brought out bitcoin bulls in droves along with a smattering of naysayers. Unusual for Crypto Twitter, the responses were largely respectful, informative and, in many cases, amusing and worth your time.
Read more: Bridgewater’s Dalio Sees Governments Banning Bitcoin Should It Become ‘Material’
Dalio was clearly responding to the firestorm he created last week when he laid out a case in an interview with Yahoo Finance for why he thinks bitcoin and other cryptocurrencies have a limited role to play in the future.
“I today can’t take my bitcoin and buy things easily with it,” he said at the time.
As of press time, bitcoin’s price was $17,587, up from $15,752 at the time of his Nov. 11 pronouncement.
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Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure
Downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods, said one analyst.
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- Bitcoin rebounded from a sharp early selloff on Thursday to trade above $93,000 shortly after the close of U.S. stocks.
- The late-day gain in bitcoin came alongside a rebound in the Nasdaq from big morning losses; the tech index closed with just a 0.25% loss.
- Downward pressure on bitcoin is losing steam, said one analyst, but the market is not yet out of the woods.
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