After 47 years in charge of the world’s largest hedge fund, Bridgewater Associates, founder Ray Dalio has completed a leadership transition that began in February. He is no longer one of the three participating investment managers, but will continue to be an advisor to the investment manager and a member of the operating board.

As announced October 4 on Bridgewater’s website, the company and Dalio have completed the necessary and necessary legal, regulatory and investor requirements to complete the transition. From now on, the fund will be led by co-CEOs Nir Bar D and Marc Bertolini, and a pair of senior investment officers: Greg Jensen and Bob Prince.

One of the most powerful figures in the global financial market, Dalio has shown a healthy development in his views on cryptocurrency. Back in 2017, Bitcoin (BTC) was described as a bubble due to the amount of speculation and the lack of transactions. Three years later, he again expressed his doubts, saying:

“There are two purposes for money, a medium of exchange and a store of wealth, and bitcoin is not efficient in either of those cases right now.”
The turning point in the discerning investor’s view of cryptocurrencies is the November 12, 2020 Twitter thread where Dalio, while repeating his earlier concerns about volatility, asked for him to be corrected if he was “wrong about these things.” This was followed by explanations from the likes of Meltem Demiurges, Zach Prince, and Matty Greenspan.

Related: Robert Kiyosaki Calls Bitcoin a ‘Buying Opportunity’ as the US Dollar Soars

In December 2020, Dalio claimed that BTC could provide protection against “money depreciation,” and in January 2021, he called it an “incredible achievement” and one of the “few alternative assets” similar to gold at this time of increased need for them “at Bridgewaters.” Note to investors.

While he has repeatedly shared his concerns that the US government will have zero tolerance for digital money, Dalio has continued to sympathize with Bitcoin, calling it an excellent savings tool for government or corporate bonds. In January 2022, when the shadow of global inflation was already a hot topic among experts, Dalio listed three main reasons why Bitcoin, along with gold, is an inflation hedge: The network has never been hacked, it has no better competitor and adoption rates indicate BTC suggests that it may further erode the market value of gold.

Source: CoinTelegraph