Bitcoin has taken it to the mainstream media, and it has become something of a phenomenon; governments, business enterprises, and the digital industry all want a piece of it one way or the other. With El Salvador becoming the first country to adopt Bitcoin, the tension among the other states is at an all-time high. They can’t seem to go by without Bitcoin or the decentralized technology, and at the same time, they can’t let decentralized finance get the better of the current fiat system in place.
For the international community, Bitcoin is nothing more than a necessary evil, and with the current adoption rates and its involvement in all walks of life and businesses, it is possible that Bitcoin would end up becoming a global sensation. But according to Ray Dalio, if this happens that Bitcoin gets closer to success in becoming a mainstream sensation of the financial world, then both the regulators and governments will try their best to sabotage it.
If Bitcoin Succeeds, Governments will not Spare it
He believes that many big countries such as China and India have already set this plan in motion where they don’t want anything to do with digital assets such as Bitcoin, thus tampering with its flight before it even gets mature in these states. Dalio says that he diversified his portfolio in such a way that a big chunk of that goes into Bitcoin investment, and he had done so when Bitcoin was taking a beating not only from the media but from world leaders for being nothing more than a hoax.
Even if Bitcoin does everything the way it is intended to become successful, the governments and regulators will not allow its proliferation or adoption, and they will try to kill it at every possible cost. So in a way, no matter what Bitcoin does or what the developers are doing or putting their efforts into this vehicle is destined to crash. He also believes that El Salvador accepting Bitcoin as a legal tender was indeed a historic moment, but the rest of the world doesn’t see Bitcoin as kindly as El Salvador did.