This comment from Bridgewater founder Ray Dailo on the leading cryptocurrency, 3 reasons it won’t be used in daily transactions:
- is not “very good as a store of wealth because its volatility is high and has little correlation with the prices of what I need to buy”
2. governments are likely to ban it – “and make it too dangerous to use”
3. Also asserts that large institutional players such as central banks, institutional investors, corporations or multinational corporations will not hold large amounts of bitcoin as a reserve asset.
On his point # 1, I can easily agree. I don’t want to pay 10,000 BTC for a pizza (remember) to find it at 17K right after … 😀
Yet … Dalio’s objections don’t mean it’s not a great commercial vehicle.