There have been uncertainty as to banning of Bitcoin in the United States and recently the manager of a hedge fund, a billionaire, in the person of Ray Dalio is adding to the whole fear.
There is a good probability that the U.S government could ban Bictoin just as it did with gold ownership in the 1930’s as posited by the $10 billion hedge Fund Bridgwater Associates during an interview with Yahoo Finance editor-in-chief on March 24.
The banning of gold ownership in 1930’s was premised on the fact that the government leaders at that time did not want fiat money and credit to compete with gold as a store of wealth.
Dalio further opined that:
“They don’t want other monies to be operating or competing because things can get out of control. 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.”
There was comparison of gold and bitcoin by the billionaire hedge fund manager and philanthropist who called Bitcoin ‘one hell of an invention’ and stated that cryptocurrency and Bitcoin is about to be banned by the Indian government. He added that he is not an expert but asserted that it can be tracked and the government can work out who is dealing with it.
Dalio acknowledged the fac that Bitcoin has stood the test of time.