Another Investor Turns 180 on Bitcoin (BTC)
Since the launch of the cryptocurrency industry, Bitcoin (BTC) faced a really difficult time surviving in the financial industry. Bitcoin (BTC) was part of the industry, which was also the latest member of the online trading industry. Ever since its launch, the cryptocurrency industry was largely criticized and despised by traditional financial institutions.
The traditional finance institutions have all the rights to be angry at the industry as it was introduced with one goal. The main goal of the cryptocurrency industry was to provide an alternative to the traditional financing sector.
This is the reason why many private banks and major financial institutions had been very critique against the cryptocurrency industry. This is the reason why Bitcoin (BTC) was under a lot of pressure because the cryptocurrency industry came to birth with the launch of Bitcoin (BTC).
While journeying through an entire decade, Bitcoin (BTC) faced a lot of opposition from the financial institutions. Even the major and the most veteran investors were against Bitcoin (BTC) and the ideology that went behind its creation.
However, Bitcoin (BTC) managed to fight against all the odds and made a name for itself. In the past couple of years, Bitcoin (BTC) gained an enormous amount of mainstream adoption and success. Now, Bitcoin (BTC) has become so crucial and important that every financial institution is planning to invest in it.
Most importantly, major investors and businessmen who were once against Bitcoin (BTC) have started becoming pros of Bitcoin (BTC). One of the most prominent personalities who once opposed Bitcoin (BTC) was Michael J. Saylor.
Michael J. Saylor is the founder and CEO of a major business intelligence firm known as MicroStrategy. Until the end of 2019, Saylor was one of the opponents of Bitcoin (BTC) but the year 2020 saw Saylor take a U-Turn. He ended up becoming one of the proponents of Bitcoin (BTC) and has been speaking very highly of Bitcoin (BTC). His company has even invested more than $1.125 million in the recent year acquiring more than 70,000 BTC.
This time, it is the founder of the Bridgewater Associates Ray Dalio who seems to have taken a 180-degree turn. According to Dalio, Bitcoin (BTC) has turned out to be one of the most unique inventions in the finance industry.
Dalio not only admired Bitcoin (BTC) but stated that his company is planning to introduce digital-asset investment for its clients. The clients are going to target are the ones who are concerned about the currency debasement and want to invest their wealth in Bitcoin (BTC).
While talking about Bitcoin (BTC), Dalio also compared the world’s largest cryptocurrency with gold. He stated that Bitcoin (BTC) has the same potential as gold and will soon surpass USD.
It was just back in November 2020 when Dalio stated that Bitcoin (BTC) is nothing more than a risk. He stated that Bitcoin (BTC) is one of the most volatile assets in the online market and investing in it is filled with risks.