At the Davos conference, Ray Dalio said that blockchain is good, and we should call it digital gold.

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This week was dedicated to the meeting of the World Economic Forum (WEF) in Davos, Switzerland. The meeting will be held on May 22 and will conclude on April 26. Ray Dalio, founder of Bridgewater Associates, spoke about today’s economy, the Federal Reserve and cryptocurrencies. As Dalio said at the WEF conference, he thinks blockchain is great and said: “Let’s call it digital gold.”

In managing the billionaire hedge fund, Ray Dalio said there will be a supply and demand problem that will cause compression.

As of the first week of February, Bitcoin.com News reported on famed billionaire Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates. He talked about the future of money and the investor told Dalio that cryptocurrency would be “outlawed,” probably by various governments. Dalio is now in Switzerland, along with other government officials, economists and financial bigwigs from around the world. The owner of Bridgewater Associates was interviewed by CNBC reporter Andrew Ross Sorkin on Squawk Box.

Ray Dalio, founder of Bridgewater Associates, talked about the Federal Reserve, cash and cryptocurrencies.

Dalio spoke again about the future of money and the U.S. central bank’s next monetary policy. The Hedge Fund manager believes that the Fed has no choice but to sell. According to a snippet of Dalio’s interview, the Federal Reserve is going to sell, individuals are selling and foreigners are selling. “The U.S. government is selling because it has to finance its deficit,” the Dalio interview excerpt says. “So there’s probably going to be a supply and demand problem, which means it’s going to lead to a contraction,” he said.

Assess Dalio’s perspective. He’s not the only person at the Davos WEF meeting who thinks the global economy is facing multiple threats. Reuters journalist Dan Burns said that specific threats such as the war between Ukraine and Russia (Ukraine), food shortages in China, and the Covid-19 blockades in China “have no clear end in sight” and “exacerbate the gloom.” German Vice Chancellor Robert Habreck also agrees with him.

We have at least four crises, which are interwoven. We have high inflation … we have an energy crisis… we have food poverty, and we have a climate crisis. And we can’t solve the problems if we concentrate on only one of the crises.

Dalio speaks of Bitcoin’s “small patch compared to gold.”

At the WEF event, the founder of Bridgewater Associates explained that cash is now garbage. “There’s no surprise that cash is still garbage,” Dalio told CNBC. A Hedge spokesman asked the hedge fund executive: “Do you know how fast you’re losing purchasing power in cash?” Dalio then said what he means when he says money is garbage.

“When I talk about cash being garbage, I mean all currencies relative to the euro and the eunuch,” Dalio said. Those currencies, like in the 1930s, were a low-value currency for goods and services.” In addition, during a talk on currencies and cash in Davos, Dalio talked about cryptocurrencies as a form of digital gold.
“According to Dalio, cryptocurrencies are good, and I think blockchain is great,” he told the host of Squawk Box on CNBC. “Let’s call it digital gold. It seems to me that digital gold, which would be something like bitcoins or other cryptocurrencies, is something that could be used in the interest of diversifying the search for alternatives to gold. Then also in relation to other assets.

“In May 2021, it was known that Dalio personally invested in bitcoin ( BTC ), but four sources explained to cryptocurrency reporters Danny Nelson and Ian Ellison that Bridgewater Associates would use “a small portion of its fund deployed directly in digital Resources. The next day, the billionaire investor and hedge fund manager told the world that governments may apply taxes to cryptocurrencies, which “may be more shocking than expected.”