The status of the crypto sector in the United States (US) remains a mystery.
In an interview with Yahoo Finance yesterday, Bridgewater Associates founder Ray Dalio said there was a possibility the U.S. government would block Bitcoin (BTC) just as it once did against gold in the 1930s.
For the record, the US once blocked gold because the government refused to let it compete with fiat and credit currencies which if it really happened, would inevitably cause many things to get out of control.
Just look at India which is rumored to be blocking the trading of cryptocurrencies including Bitcoin. While admitting he is not an expert in the sector, Dalio could not deny if the U.S. government would act similarly.
At the same time, Dalio acknowledges BTC’s prominent position as an asset class.
"Over the past 10 years, Bitcoin has been proven never to be hacked. In general, it has functioned based on its operation. He has sustained supporters from around the world. It is also an alternative as an asset storage, "he said.
Last week, Dalio revealed that the US government will be looking for those who are willing to 'throw' dollars for Bitcoin as they face the phase of tax changes to address the country's debt crisis.
At the time of writing, BTC is trading at $ 53,122, down 2.38% in 24 hours. It is estimated that there is a correction on the currency by almost 13% since from an all -time high (ATH), $ 60,100.
