• Bridgewater Associates, led by Ray Dalio, will invest in a cryptocurrency fund

  • Several hedge funds have expressed interest in digital assets as they become more popular and authorities try to regulate them. Bitcoin has been dubbed a “hedge against inflation” by some in the finance community.

    Bridgewater Associates, the world’s largest hedge fund, is planning to invest in its first cryptocurrency fund. According to sources familiar with the situation, the hedge fund currently has no plans to engage in cryptocurrency.

    Ray Dalio, a Harvard Business School graduate, started Bridgewater in 1975. With $150 billion in assets under management, it is now the world’s largest hedge fund (AUM).

    “Bridgewater is in a first-half strategy this year,” a source revealed last month. They intend to invest a modest portion of their fund directly in digital assets.”

    “Bridgewater is looking to become involved,” stated another. They’re conducting thorough due diligence on liquidity, service suppliers, and other factors.”

    “While we won’t comment on our holdings, we can state Bridgewater continues to extensively explore crypto but is not currently intending on investing in crypto,” a spokeswoman said on February 22 when asked if the fund was considering investing in crypto by mid-2022.

    Ray Dalio, the company’s founder, has made his crypto investments public. The billionaire, who is well-known in the financial world, described Bitcoin as a “gold alternative” for the younger generation. Dalio announced in May of last year that he had made personal investments in Bitcoin and Ethereum. Investors should diversify their portfolios by investing in cryptocurrency, he advised.

    Several hedge funds have expressed interest in digital assets as they become more popular and authorities try to regulate them. Bitcoin has been dubbed a “hedge against inflation” by some in the finance community.

    Dario previously stated that crypto could be considered as a threat to governments in the future. There have been outright bans and threats of bans on cryptocurrency in recent months. The crypto industry awaited the European Union Parliament’s decision on a crypto bill last week, which included a clause asking for the prohibition of cryptocurrencies that use the Proof-of-Work (PoW) consensus. This would have resulted in a complete ban of Bitcoin. The anti-PoW section in the Markets in Crypto Assets legislation was defeated by legislators.

    President Joe Biden signed an executive order earlier this month calling for “urgent” central bank digital currency (CBDC) study, which many worried would lead to a blanket ban on crypto in the US.

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