Investor Ray Dalio warned that “bans could be imposed” on the Bitcoin (BTC) currency, said “shocking” tax changes in many countries.
Dalio, who recently pronounced the name Bitcoin as an investment opportunity on the LinkedIn page, warned investors.
Dalio: Prepare for “shocking” tax changes
With the onset of the Corona virus epidemic, bonds have become unnecessary in protecting the value of savings. In response, the US government plans to recover some of the enormous amount of debt and increase taxes. The effects of these could be worse than you think.
Dalio thinks this will be a “new paradigm”.
“If history and logic are to be a guide for us, policymakers who do not have money will raise taxes and impose bans to prevent these capital movements from moving from debt assets to other assets such as gold and Bitcoin,” he summarized.
“These tax changes may be more shocking than expected.”
Ultimately, the environment will become less attractive than ever for those with savings.
The US “has lost its hospitality to capitalism,” says Dalio. To guard against the consequences of this, investors commented that “well-diversified non-debt and non-dollar assets should be kept in their portfolios and also take a cash position.”
Saylor describes Bitcoin as “the obvious solution”
MicroStrategy CEO Michael Saylor said Bitcoin is a response to governments.
“I agree with (Dalio) that bonds no longer work as a capital item,” he said on Twitter. Wrote.
“To be honest, Bitcoin is a much better solution than building a well-diversified portfolio of debt and non-dollar assets in the emerging Asian market.”
MicroStrategy 260 BTC worth $ 15 million last week he bought. The company has a total of 91,064 BTC and continues to increase the amount of its assets.