Governments will ‘outlaw’ bitcoin: Ray Dalio

American billionaire Ray Dalio says governments will outlaw bitcoin and other cryptos.

A growing number of Wall Street heavyweights are turning to bitcoin as a safe-haven asset, but the founder and co-chairman of Bridgewater Associates, the world’s biggest hedge fund sees no point in joining them.

He told Yahoo Finance that there are three key problems with bitcoin and other cryptos that will prevent them from achieving mainstream success.

Dalio said he believes central bank digital currencies (CBDCs) are far more likely to dominate the fiscal landscape in the future than bitcoin and other cryptos.

He says one obstacle to them achieving success is what he sees as their lack of utility as a payment medium. “I today can’t take my bitcoin yet and buy things easily with it,” he said.

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