Ray Dalio’s Departure from Bridgewater: Legacy, Predictions, and the Future of Crypto
Main Idea
Ray Dalio's departure from Bridgewater Associates marks a shift in the company's management and potential changes in its approach to cryptocurrencies, with new leadership expected to adopt more crypto-friendly strategies.
Key Points
1. Bridgewater Associates received nearly 20% of its shares from a multibillion-dollar deal with Brunei's sovereign wealth fund.
2. Libertarian economist Eugene Ronin predicts increased cryptocurrency use under Bridgewater's new management.
3. Ray Dalio stepped down as CEO in 2017 and as chairman in 2021, leaving the company to younger leaders.
4. Dalio advised allocating 15% of portfolios to bitcoin and gold for risk hedging, up from his previous recommendation of 2%.
5. Dalio has called Bitcoin 'a brilliant invention' and owns some cryptocurrency, though he prefers gold.
Description
Billionaire Ray Dalio has handed over control of the hedge fund he founded 50 years ago, Bridgewater Associates. According to reports , Dalio sold his last stake in the company and left the board of directors. After that, Bridgewater issued new shares to the sovereign fund of Brunei. As a result of this multibillion-dollar deal, the fund received almost 20% of the company's shares. Libertarian economist Eugene Ronin told to CoinTelegraph we should expect more active use of cryptocurrencies by Br...
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