This time its not China Ban or JP Mirgan CEO. Its a warning from world's largest hedge fund manager which sent shockers to crypto markets.
Ray Dalio who co-founded Bridgewater Hedge fund which has highest number of assets under maintenance in the world joined his friend and fellow billionaire and JP Morgan CEO, Jamie Dimon in calling Bitcoin a bubble.
Dalio did not call bitcoin as scam but stated that Bitcoin is “not an effective storehold of wealth because it has volatility to it, unlike gold !
Its shame on those who call bitcoins as currency, according to Dalio. All the
action and resulting volatility in cryptocurrencies is nothing but is driven by people thinking that they can sell it at a higher price, without any understanding of the fundamentals of economics or investing.
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