leaders the digital generation. Its very much speculative. Dalio appeared on cnbc's "Squawk Box" and compared Bitcoin to gold unfavorably, saying that he doesnt think the cryptocurrency is "an effective storehold of wealth. The firm currently manages about 160 billion, according to its website. "It's a shame, it could be a currency. Dalio said there are two things that are required for a currency, Bloomberg reported. . If you think, we can improve that section, please comment. The second thing is its a store of value. Business Insider CEO forex chart head and shoulders Henry Blodget sat down with Ray Dalio, the chairman and co-CIO of Bridgewater Associates and author of the newly released book Principles: Life and Work. Speaking at a bank investor conference in New York, Dimon added: The currency isnt going to work. Blodget asks Dalio about Jamie Dimons recent comments referring to bitcoin as a fraud. Nyse : JPM ) Jamie Dimon said that Bitcoin was 'a fraud' and it would blow.
It could work conceptually, but the amount of speculation that is going on and the lack of transactions hurts it he said. Bitcoin is a bubble. Unlike gold, lets say, which reflects the value of money, its more stable than the value of money, bitcoin is a highly speculative market. Expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information.
Bitcoin is a bubble.". Bitcoin is a highly speculative market. Principles: Life and Work. Cnbc he believes there's a bubble in the Bitcoin (. Facebook, Twitter, LinkedIn, and, instagram. Dalio says bitcoin is not an effective medium of exchange, calls the currency a speculative bubble, and says even the privacy aspect will be stress tested. Bitcoin todayyou cant spend it very easily. Bitcoin is a bubble Dalio said. Business Insider Emails Alerts, site highlights each day to your inbox. Its very much speculative people thinking can I sell it at a higher priceand so its a bubble.
Source: Bloomberg Pro Terminal, trader Velizar Mitov, read more: reccomend. Exante : Bitcoin ) market. Blodget asks Dalio about, jamie Dimons recent comments referring to bitcoin as a fraud. The first thing is that you can transact in it, its a medium of exchange.