losses on Friday. Dalio didn't go as far as Dimon. The second thing is its a store of value. His firm currently manages about 160 billion, according to its website.
Bitcoin is a bubble. Earlier this month the chief executive of JPMorgan Chase Co (. You can't spend it very easily Dalio said on cnbc's "Squawk Box." "It's not an effective storehold of wealth because it has volatility to it, unlike gold the hedge fund founder added. "It's not an effective storehold of wealth because it has volatility to it, unlike gold. Ray Dalio, the founder of the world's largest hedge fund, has joined the ranks. Its very much speculative people thinking can I sell it at a higher priceand so its a bubble. It could work, conceptually, but the amount of speculation that is going on and the lack of transactions hurts it, he said. DAAs Consumer Choice page, the, nAI's website, and/or the, eU online choices page, from each of your browsers or devices. While speaking on, cNBC's Squawk Box, tuesday, the billionaire co-CIO of Bridgewater Associates said "bitcoin is a highly speculative market." "Bitcoin is a bubble he added. The banker added that he views bitcoin as "worse than tulip bulbs referring to the arrival and boom of the tulip plant in 17th-century Europe.
To bring you the best content on our sites and applications, Meredith partners with third party advertisers to serve digital ads, including personalized digital ads. Despite pressure from negative headlines and global regulators, bitcoin is trading up 50 since mid-June. In terms of a storehold of wealth, its not an effective storehold of wealth because it has volatility. You always have the choice to experience our sites without personalized advertising based on your web browsing activity by visiting the. Robert Shiller, the Nobel-winning economist and author who predicted the housing and tech bubbles, recently doubled down on his view that bitcoin is a bubble, telling Quartz it was the "best example right now" of one. Dalio's negative comments come a week after JPMorgan Chase CEO Jamie Dimon also took a shot at bitcoin, saying the cryptocurrency "is a fraud." "It's just not a real thing, eventually it will be closed.