Bridgewater Associates, the world’s largest hedge fund founded by Ray Dalio, is planning to support cryptocurrencies for the first time. At present, the fund has $150 billion in assets under management. A part of these funds is reportedly to be invested in digital assets.
However, the company has no intention to invest directly in crypto assets itself. Earlier, billionaire Ray Dalio said that he made small investments in bitcoin from time to time. He believes that BTC is “almost a younger generation’s alternative to gold,” which “has merit as a small portion” of a diversified portfolio.
Ray Dalio supposes that a successful introduction of cryptocurrencies could be followed by bans in some countries. Nowadays, monetary authorities are tightly controlling this sphere. At the beginning of March, US President Joe Biden signed an executive order calling on the federal agencies to alter their stance on the digital asset and have their fingers on the pulse.
Some hedge-funds have already tapped into the digital asset space. Most of them have already benefited from the opportunities provided by the crypto world. According to The Wall Street Journal, in January 2022, London-based Brevan Howard launched a cryptocurrency hedge fund.
