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Jack Dorsey hits back at Ray Dalio for his pessimistic outlook on bitcoin

Jack Dorsey hits back at Ray Dalio for his pessimistic outlook on bitcoin

Quick Take

1 minute read

  • Over the past few weeks, the leading cryptocurrency has performed extremely well and has even been able to surpass two key resistance levels. 
  • This includes a $15,000 mark and the $16,000 mark of which it is currently standing. 

Over the past few weeks, the leading cryptocurrency has performed extremely well and has even been able to surpass two key resistance levels. This includes a $15,000 mark and the $16,000 mark of which it is currently standing. But even though the coin has been performing outstandingly, there are still many people out there that will criticise the token and its future. The well-known billionaire hedge fund manager, Ray Dalio has expressed his worry towards the coin saying that if it keeps on spiking in price, authorities will be forced to “outlaw“ it.

The chief executive officer of the Twitter social network, Jack Dorsey has responded to the comments made by the hedge fund manager saying one simple word:

Many big-time investors related to big institutions have been converting to bitcoin funds over the course of 2020. Whether it was the coronavirus pandemic of the economic crisis that followed that caused them to change their tune is unknown but some people like Ray don’t seem to be changing their minds.

The world economic forum in Switzerland took place earlier this year with Ray attending saying that “cash is trash“. He even went on to advise investors to buy into the precious metal of gold.

For more news on this and other crypto updates, keep it with CryptoDaily!

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