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Last Updated Date: 26 March 2021 @ 9:03 AM (UTC)
*Please note that all the dates are in GMT time zone

Ray Dalio, the man behind the $150 billion hedge fund Bridgewater Associates had a recent interview with Yahoo. He said there is a “good probability” bitcoin may be outlawed similar to what happened with gold last 1934.

Dalio is referring to the 1934 Gold Reserve Act. This law mandated all monetary gold to be transferred to the U.S. Treasury. This is for the sole purpose that financial institutions and citizens are not allowed to hold gold.

Dalio further talked about why he thinks bitcoin can be banned in the US. The hedge fund manager explained,

The market is struggling to close over the resistance at 58333. A close over 58333 should secure a turnaround and launch a drive to higher levels ⇒ 60505. Just a close under 49058 is needed to rekindle bear trending selloffs.


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