Bitcoin Bandwagon: Former skeptics Goldman Sachs and billionaire Ray Dalio on board

Goldman Sachs has publicly announced Bitcoin as an investable asset. Dalio, once an open Bitcoin critic, admitted that he owned Bitcoin. Other large corporate clients are very interested in this category. So much attention of institutional investors to cryptocurrencies can be a "curse". There's plenty of room for everyone to jump into the Bitcoin car, especially when new drivers have been hot skeptics before. This is the case for new Bitcoin friends, Goldman Sachs Global Digital Asset Leader, Mathew McDermott, and Ray Dalio, founder of the world's leading hedge fund Bridgewater Associates. Earlier this week, the duo appeared publicly as Bitcoin supporters and discovery investors. McDermott announced to subscribers on Monday that Bitcoin deserves attention and investment in a research note. “Bitcoin is now seen as an asset to invest in. It has its own risk, in part because it is still relatively new and is going through an adoption phase. And given the digital gold analogy, it doesn't intuitively behave as one might expect for other entities; It has been made more compatible with risk assets until today. But customers and beyond see it largely as a new asset class, and this is remarkable – we rarely see the emergence of a new asset class. Noteworthy moment Likewise, Dalio was once an outspoken critic of Bitcoin, but in the recording of an investor conference publicly announced earlier Monday this month, the billionaire investor admitted that he owns Bitcoin, claiming that Bitcoin is his favorite person. bonds against holdings. This is good news for BTC hodlers and anyone who stays true to Bitcoin's inherent anti-inflationary, anti-fiat value. The downturn of previously fierce opposition by established players in the investment community helps verify and legitimize the entire cryptocurrency asset class.

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