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Ray Dalio’s Bridgewater Associates Prepares to Invest in a Crypto Fund

Bridgewater Associates, the world’s largest hedge fund, introduced Monday plans to again a crypto fund for the primary time. The hedge fund based by billionaire Ray Dalio disclosed that it’s making ready to make investments in an exterior cryptocurrency fund. The hedge fund agency justified its transfer by stating that presently, it doesn’t have any plans to make investments straight in cryptocurrencies itself.

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According to three sources conversant in the matter, different distinguished crypto traders are additionally in talks to make investments in the fund.

A Bridgewater spokesperson revealed that the corporate presently doesn’t have plans to make investments in cryptocurrencies. “While we won’t comment on our positions, we can say Bridgewater continues to actively research crypto but is not currently planning on investing in crypto,” the official talked about.

Another individual with shut details about the hedge fund’s crypto buying and selling plans mentioned: “Bridgewater is in a first-half plan this year. They plan to have a small slug of their fund deployed directly into digital assets.”

And one other supply additionally disclosed: “Bridgewater is looking to get involved. They are doing serious diligence: liquidity, service providers and whatnot.”

The Company Has a Place for Bitcoin

The transfer clearly signifies that the world’s largest hedge fund, with $150 billion in property beneath administration (AUM), is listening and taking cryptocurrency severely as an asset class.

Established in 1975 and headquartered in Connecticut, US, Bridgewater is an American funding administration firm based by Harvard Business School graduate Ray Dalio.

In December 2020, Dalio, the founder and chief funding officer of Bridgewater Associates, clarified his view on Bitcoin and disclosed what his firm has in retailer for cryptocurrency.

Dalio confirmed that he owns “a little bit” of Bitcoin and known as it a youthful technology’s various to gold. “Bitcoin is like gold, though gold is the well-established blue-chip alternative to fiat money.” The Billionaire investor mentioned that allocating up to 2% of 1’s portfolio to Bitcoin is cheap. He is assured that Bitcoin, comparable to gold, acts as a good hedge in opposition to rising costs of products and companies.

Image supply: Shutterstock

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