Ray Dalio says if bitcoin is really successful, regulators will ‘kill it’

Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, believes regulators would ultimately take control of bitcoin if the cryptocurrency gains mainstream success.

“I think at the end of the day if it’s really successful, they will kill it and they will try to kill it. And I think they will kill it because they have ways of killing it,” Dalio told Andrew Ross Sorkin Wednesday on CNBC’s “Squawk Box” at the SALT conference in New York.

Still, the billionaire investors said bitcoin makes a good alternative to cash, and he allocates a small percentage of the digital coin in his gold position.

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