Ray Dalio, founder of the $150 billion hedge fund Bridgewater Associates, believes bitcoin has "proven itself" in the last 10 years but still sees a "good probability" that it will be outlawed by governments.
Speaking to Yahoo Finance's Andy Serwer on Wednesday, the billionaire investor said it was "very likely under a certain set of circumstances" that bitcoin would be "outlawed" as gold was in the 1930s.
"Every country treasures its monopoly on controlling the supply and demand. They don't want other monies to be operating or competing, because things can get out of control," Dalio added, citing India's proposed ban on crypto as an example.
He added that bitcoin has "proven itself over the last 10 years," having not been hacked and building a significant following.
In November, prior to BTC's staggering run-up to $50,000 and beyond, Dalio said if bitcoin or other cryptos become "material," governments will "outlaw" it. "They'll use whatever teeth they have to enforce that," he said at the time.