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  • Writer's pictureDavid Manion

How CZ is Trying to Persuade Ray Dalio That Crypto is the Solution to “Money in Jeopardy”

Ray Dalio, the founder of Bridgewater Associates and one of the world’s most successful hedge fund managers, recently raised concerns about the future of money. He argued that central banks are printing too much money which is leading to a decrease in its value. CZ, the CEO of Binance, has been trying to persuade Ray Dalio that cryptocurrency is a viable solution to this problem.

He believes that crypto can provide an alternative form of money with a limited supply and decentralized control. CZ argues that crypto could be used as a more reliable store of value and could help protect people from inflation caused by the excessive printing of fiat currency. He also claims that cryptocurrency can offer greater transparency and security compared to traditional banking systems.

On February 3rd, Binance CEO Changpeng Zhao (CZ) hinted via a tweet about adopting one of Ray Dalio’s employee management systems, DOT, in response to Dalio’s criticisms of Bitcoin.

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Ray Dalio Criticized Bitcoin

Bridgewater Associates’ billionaire co-founder, Ray Dalio, continues to oppose Bitcoin, the world’s largest cryptocurrency. Dalio stated in an interview with CNBC on February 2 that Bitcoin is a weak currency and is not a wise way to store value. Furthermore, he claimed that BTC is not a legitimate payment intermediary. The billionaire believes that Bitcoin’s value fluctuates too much, preventing it from achieving its intended goals. He also claimed that BTC’s market capitalization is still too low and unrelated to other factors, limiting its use in international payments.

Dalio dislikes stablecoins because they are simply digital versions of previously issued fiat money. Bridgewater Associates’ founder claimed that the fundamental concept of money is under threat in today’s society. However, Dalio discussed the characteristics of a strong currency, stating that it must first be able to withstand inflation.

The renowned investor proposed an alternative coin that would be linked to inflation and maintain its purchasing power while avoiding the volatile volatility seen in the most popular cryptocurrencies. According to billionaire investor Ray Dalio, fiat money is in jeopardy as a means of storing wealth. However, he does not believe Bitcoin or stablecoins will provide a solution.

Ray Dalio Being Persuaded by CZ

Ray Dalio’s comments piqued the interest of Binance CEO Changpeng Zhao, who claims to be a big fan of the billionaire investor but has yet to convince him to join the crypto sector. Furthermore, his criticism of Bitcoin elicited numerous responses from the bitcoin community, including comments from CZ.

In contrast to many bitcoin enthusiasts who attacked Dalio, CZ was more polite and provided justifications for Dalio’s viewpoint. CZ stated that he has yet to persuade Dalio to invest in cryptocurrency, despite the fact that Dalio admitted to knowing nothing about it.

On February 3, CZ tweeted that there is so much to learn from Dalio and that he has been busy learning. Ray, he says, is a very humble person who understands money the best. CZ stated on Twitter that he will use Dalio’s DOT employee rating system at Binance because he enjoys it. He mentioned the DOT method as one of several things he hoped to learn from the well-known hedge fund expert.Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Furthermore, CZ linked Dalio’s Bitcoin viewpoint to the idea that little specifically determines BTC movement. As a result, Dalio would prefer a stablecoin that is inflation-hedged over Bitcoin, which has proven to be a poor inflation hedge.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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