This came up because the issue of banning Bitcoin came up in India again[0]
The original interview is here, and the Bitcoin segment starts at 14:30:
https://www.youtube.com/watch?v=cJ82qABNWQA
The whole interview is worth a watch if you're interested in his perspective on the global economy. What Dalio actually said was in the long run he wouldn't be surprised if the US Government eventually attempt to ban Bitcoin, and he made the historical comparison to gold (which he favours).
For those that don't know their history[1]: "in 1933, Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins.". These restrictions lasted for 30 years
I actually tend to agree with him. Bitcoin blows a gaping hole in any capital controls any government could ever want to impose, and its one available to ordinary plebs with an Internet connection.
The reality is though, only 3% of the ~32 million funded wallets in existence actually transact every day[2], and only 7 million wallets globally have more than $1,000 USD worth in them[3]. Bitcoin isn't really a threat to anything yet.
[0] https://finance.yahoo.com/news/india-proposes-ban-bitcoin-us...
[1] https://en.wikipedia.org/wiki/Gold_Reserve_Act
[2] https://www.bitcoinmarketjournal.com/how-many-people-use-bit...
[3] https://bitinfocharts.com/top-100-richest-bitcoin-addresses....
The original interview is here, and the Bitcoin segment starts at 14:30:
https://www.youtube.com/watch?v=cJ82qABNWQA
The whole interview is worth a watch if you're interested in his perspective on the global economy. What Dalio actually said was in the long run he wouldn't be surprised if the US Government eventually attempt to ban Bitcoin, and he made the historical comparison to gold (which he favours).
For those that don't know their history[1]: "in 1933, Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins.". These restrictions lasted for 30 years
I actually tend to agree with him. Bitcoin blows a gaping hole in any capital controls any government could ever want to impose, and its one available to ordinary plebs with an Internet connection.
The reality is though, only 3% of the ~32 million funded wallets in existence actually transact every day[2], and only 7 million wallets globally have more than $1,000 USD worth in them[3]. Bitcoin isn't really a threat to anything yet.
[0] https://finance.yahoo.com/news/india-proposes-ban-bitcoin-us...
[1] https://en.wikipedia.org/wiki/Gold_Reserve_Act
[2] https://www.bitcoinmarketjournal.com/how-many-people-use-bit...
[3] https://bitinfocharts.com/top-100-richest-bitcoin-addresses....