Ray Dalio, who runs the world’s largest hedge fund, Bridgewater Associates, has been slow to embrace cryptocurrency. He volunteered during a Coindesk event in May that he “has some bitcoin,” but he also told CNBC this fall that regulators will “kill” cryptocurrency if it becomes too successful.
He predicted in an interview with Yahoo Finance late last year that he didn’t think digital currencies would “succeed in the way people hoped they would,” in part because of possible government action. And in a separate interview with Yahoo Finance this past May, he said it was likely that bitcoin could be outlawed.
“Every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing, because things can get out of control,” Dalio said. “So I think that it would be very likely that you will have it under a certain set of circumstances outlawed the way gold was outlawed.”
But this week, in a new interview Monday for Yahoo Finance’s Influencers with Andy Serwer, crypto came up again and while he didn’t address whether the government would eventually outlaw the currency, the billionaire investor’s tone had noticeably changed over past comments.
For one thing, he revealed he is getting deeper and deeper into the pool with an investment in Ethereum (ETH-USD) in addition to his bitcoin (BTC-USD), though he declined to reveal exactly how much he held. He also said he had taken notice of the industry’s staying power.
“I think it’s very impressive that for the last 10, 11 years, that programming has still held up,” he told Yahoo Finance’s editor-in-chief, Andy Serwer. “It hasn’t been hacked and so on and it has an adoption rate.”
But the legendary hedge fund founder is still a long way from being a crypto evangelist. “I’m very big on diversification,” he said…
