Ray Dalio on Financial World Order, Inequality & Capitalism
Speaking of Bitcoin, Ray Dalio affirmed his previously held beliefs that open cryptocurrencies like bitcoin will not be able to compete with government-issued currencies in the future based on three primary reasons:
1. Lack of venues that accept cryptocurrencies as a payment vehicle.
2. Bitcoin and other cryptocurrencies are too volatile to be considered an effective store of wealth.
3. If bitcoin and other open cryptocurrencies become material, governments will "outlaw" it using "whatever teeth they have to enforce that."
The interview was first published on November 7, 2020.