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Hedge fund billionaire Ray Dalio reveals he now holds ether, slams cash

Ray Dalio told Yahoo Finance that cryptocurrencies have become an impressive asset class, but he thinks cash could become a “problematic asset”

Bridgewater Associates founder and co-chief investment officer Ray Dalio has revealed that other than Bitcoin, he also now holds a small amount of Ether (ETH), the native cryptocurrency on the world’s largest smart contract platform Ethereum.

The billionaire investor, who’s been at the global hedge fund giant for over three decades, also expressed his admiration of the crypto space terming its growth as “impressive.” But the hedge fund manager did not spare cash, slamming it as possibly the “worst investment.”

Dalio expressed these sentiments during an interview with Yahoo Finance, published Thursday.

First Bitcoin, and now Ethereum

As with many other big-money individuals, hedge fund billionaires, and family offices, Ray Dalio took a negative view of cryptocurrency even as the emerging technology saw massive growth in the last decade.

But in May his stance flipped as he bought Bitcoin (BTC) amid a broader institutional adoption of the flagship cryptocurrency and other digital assets. An explosion of interest in decentralised finance (DeFi), non-fungible tokens (NFTs), and most recently the metaverse only served to increase inflows in this new asset class. 

So, a few months down the line, the American investor has revealed he recently added Ethereum (ETH) to his crypto portfolio.

„I don’t own a lot of it,” he told Yahoo Finance, referring to his ETH holdings. He also pointed out that he could not reveal just how much BTC he holds at the moment.

Talking about Bitcoin, the investor said he thought of it as a very impressive technology that has managed to remain safe for so long and continues to get adopted across the world.

„I think it’s very impressive that for the last 10, 11 years, its programming has still held up,” he noted.

Investors might need to diversify out of cash

Dalio also expressed his views on cryptocurrencies as an investment vehicle, noting that he views these as alternative money and good investments.

But he slammed cash saying that although most investors see it as a safe investment, his opinion is that it’s “the worst investment.“ 

According to him, the dollar’s debasement, for instance, means inflation-adjustment puts losses on dollar-based investments at 4% to 5%. He urges diversification, noting that its likely cash will become “a problematic asset.”

The post Hedge fund billionaire Ray Dalio reveals he now holds ether, slams cash appeared first on Coin Journal.

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Experts Predict Bitcoin Will Hit $100, 000 – But When Exactly?

Many Bitcoin (BTC) experts and bulls see the crypto hitting $100, 000 in the near time. But many also remain split on when exactly this will happen. The large-cap coin has experienced massive headwinds this year.

It hit its all-time high just last month after scaling well over $68, 000. However, the surge did not last long sine in early December, Bitcoin tumbled to $46, 000. But considering BTC started the year at $30, 000, it’s still outperforming a lot of assets. But could Bitcoin really hit $100, 000?

Bitcoin’s Bullish Sentiment

Conservative analysts at Fidelity Investments are looking at the $100, 000 price target by 2023. But optimistic bulls see this coming rather sooner. In fact, some even predict that the crypto will hit $100, 000 in Q1 2022. Much of this growth is expected to be driven by solid organic demand. Bullish analysts at Token Metrics feel that the currency will hit $75, 000 by year-end.

Data Source: Tradingview.com

Others like Parallax Digital, a digital assets marketing and consulting firm, are looking at $307, 000 by October 2021. This is by the most bullish prediction of them all. Analysts at Parallax argue that inflationary pressures occasioned by the COVID 19 pandemic and the supply chain crisis will push more investors towards cryptocurrency. So, here is an expected timeline of events based on these predictions:

  • Bitcoin Starts the year at $30, 000 

  • Hits an all-time high of $60, 000 in September 2021 

  • Surges to $75, 000 by year-end and goes on to hit $100, 000 in Q1 2022

Short Term Volatility Still Remains a Concern

Despite these bullish predictions, the short-term volatility of Bitcoin is expected to remain a big concern for investors. This has been a feature of Bitcoin for the last three months or so, and analysts feel it will continue in the short term.

The looming threat of potential regulation also remains a risk factor. However, analysts say that if indeed the crypto hits $100, 000, it will trigger a “euphoric” bull run that could send it to incredible heights.

The post Experts Predict Bitcoin Will Hit $100, 000 – But When Exactly? appeared first on Coin Journal.