As the Bitcoin correction deepens, the fear, uncertainty, and doubt has returned, with billionaire hedge fund manager Ray Dalio adding a whole bunch more of it.
In an interview with Yahoo Finance’s editor-in-chief on March 24, the founder of the $150 billion hedge fund Bridgewater Associates stated that there is a “good probability” that the U.S. government could ban Bitcoin just as it did with gold ownership in the 1930s.
That happened because government leaders at the time did not want gold to compete with fiat money and credit as a store of wealth, Dalio added.
“They don’t want other monies to be operating or competing because things can get out of control. So I think that it would be very likely that you will have it, under a certain set of circumstances, outlawed the way gold was outlawed.”