Bitcoin is being killed by regulators in countries like India and China

US billionaire Ray Dalio has expressed concern that countries like India and China are holding back the growth of Bitcoin, the world’s top-rated cryptocurrency. In an interview with the media earlier this week, the 72-year-old former co-Chief Investment Officer of Bridgewater Associates, the world’s largest hedge fund, feared global regulators might try to crack down on the cryptocurrency as Bitcoin becomes more popular. The business mogul also said that it has not fully engaged in digital currencies in the past, but has converted part of its portfolio to Bitcoin.

Bitcoin image

Dalio believes that countries like India and China are trying to “destroy” cryptocurrencies. Although China has banned digital currency trading and trading, India’s approach to securing the future of cryptocurrency remains volatile.

As per the report, Dalio said, “If (Bitcoin) is successful, global regulators will try to kill it and get rid of it at the end of the day.”

The famous investor went on to point out that given the market’s constant uncertainty, people should properly diversify their portfolios before entering the crypto space. It was important to him that investors keep their finances safe in the form of gold or other expensive commodities.

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Despite the voices of anti-cryptocurrencies such as European Central Bank Governor Christine Lagarde who question the credibility of cryptocurrencies, digital financial tokens are experiencing a fandom among global traders and investors.

A billionaire investor said last month that Bitcoin has something to do with digital gold. According to Dalio, continuous evaluation of your investment is the key to success in the crypto market. He also suggested not buying assets like Bitcoin because of the temporary boom. Dalio stated that“Carefully spend your money and be wise while taking decisions.”

Earlier this month, El Salvador became the first country in the world to convert Bitcoin to fiat along with the US dollar. The decision of the country was appreciated by Charles Hoskinson, the co-founder of Ethereum that soon all other countries will adopt cryptocurrencies.