The Blubber

Per Coin Telegraph

Bridgewater founder Ray Dalio has given a statement regarding Bitcoin, saying it doesn't have any relation to anything. Dalio says that the attention that it gets is too big for its size.

On Feb 2, Dalio gave a statement on Squawk Box, CNBC, regarding the mass printing of the US dollar. He commented on how not just the United States was printing too much of it but also other countries.

Dalio: “We are in a world in which money as we know it is in jeopardy. We are printing too much, and it’s not just the United States, it is all the reserve currencies.”

Regarding Bitcoin, Dalio acknowledged its performance over the last 12 years but noted that it couldn't serve as money due to being too volatile. He shared how it wouldn't be an effective store of wealth nor an effective medium of exchange.

The billionaire investor then gave a quantifying comparison of the worth of Bitcoin, saying it was only worth a third of Microsoft stocks. He then shared his ideas of what the perfect coin would be.

Dalio: “The closest thing to that is an inflation index bond, but if you created a coin that says OK this is buying power that I know I can save in and put my money in over a period of time and transact in anywhere, I think that would be a good coin,”

Berkshire Hathaway's Charlie Munger has been a long-time cryptic of crypto, saying it was ridiculous and that people that bought it were "massively stupid." He had previously called for a ban on crypto.

In recent news, Crypto.com sued a woman for using the $10.5 million that they accidentally sent her mistakingly after asking for a $100 discount. The recipient and her sister spent the mistakenly sent money on items like a luxury house.

See flow at unusualwhales.com/flow.

Other News:

• Charlie Munger said: "Crypto is just ridiculous that anybody would buy this stuff... it's massively stupid."
• Crypto.com sues a woman for using the $10.5 million accidentally sent to her after she asked for a $100 refund

Resources:

Coin Telegraph

Squawk Box