Ray Dalio, founder of the world’s largest hedge fund, says ‘bitcoin is a bubble’

CNBC/Tae Kim/09-19-17

Bridgewater Associates founder Ray Dalio said Tuesday he is not a believer in cryptocurrencies.

“Bitcoin today you can’t make much transactions in it. You can’t spend it very easily,” Dalio said on CNBC’s “Squawk Box.”

“It’s not an effective storehold of wealth because it has volatility to it, unlike gold,” the hedge fund founder added. “Bitcoin is a highly speculative market. Bitcoin is a bubble.”

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