Dalio expects to offer the Alt-Cash Fund soon, says ‘Bitcoin Won't Escape Our Sc

[Cordillerabit]

"Bitcoin looks like a long-duration option on a highly unknown future" The founder of Bridgewater Associates said.

"The founder and co-chairman of the world's largest hedge fund said he expects the company to soon offer an alt-cash fund and a wealth fund stockholding, citing the need to deal with the "devaluation of money and credit," and said, "Bitcoin will not escape our scrutiny.

Bridgewater founder Ray Dalio seems to have warmed a bit further to the biggest cryptocurrency, calling bitcoin (BTC, +14.02 percent) "one hell of an invention," saying it or its rivals could fill the growing need for gold alternatives.
"I greatly admire how Bitcoin has stood the test of 10 years of time, not only in this regard but also in how its technology has been working so well and has not been hacked."I greatly admire how Bitcoin has stood the test of 10 years, not only in this regard, but also in how its technology has worked so well and has not been hacked.

But Dalio is far from a full-on bitcoin conversion, even with his latest comments and his recent agreement to deliver a keynote at CoinDesk's Consensus conference in late May. He said some "what-if" scenarios on bitcoin were run by his fund, including what would happen if governments decided to ban it.

Dalio said, "paint a picture that is highly uncertain. That is why to me bitcoin looks like a long-duration option on a highly unknown future that I could put an amount of money in that I wouldn’t mind losing about 80 percent of."
Dalio repeated his recent statement that he's keen to be corrected and learn more about bitcoin.

Source: Bityard