BREAKDOWN: Hedge Fund Billionaire Ray Dalio Has Officially Bought Bitcoin
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 24 May 2021
⏱️ 16 minutes
🧾️ Download transcript
Summary
A big shift from one of finance’s biggest names, plus a recap on the latest China-Bitcoin intrigue.
This episode is sponsored by Nexo.io and Bitstamp.
Today’s episode of “The Breakdown” is split into two parts. In part one, NLW recaps the latest out of China, including:
- Interpretations of Friday’s surprise targeting in a speech by the Vice Premier
- A weekend market crash, the second of the week
- Miner selling and the motivations behind it
- What to watch for in the coming days
In part two, he puts in context the news that Bridgewater’s Ray Dalio owns bitcoin, looking at the larger institutional pattern that has driven the bitcoin bull and Dalio’s specific concerns about currency devaluation.
-
Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.
-
Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.
-
Image credit: Takaaki Iwabu/Bloomberg/Getty Images
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.1 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:15.2 | The breakdown is sponsored by nexus.io and bitstamp and produced and distributed by CoinDess. |
| 0:22.4 | What's going on, guys? It is Monday, May 24th, and today we are talking about why hedge fund billionaire |
| 0:28.6 | Ray Dalio has officially bought Bitcoin. However, I have to say that without a doubt, the most |
| 0:35.3 | important news I could be exploring right now is digging |
| 0:38.6 | into everything that happened over the weekend. It feels to me like we could be on the verge of |
| 0:43.6 | one of the more significant shifts that Bitcoin has ever seen, at least from a network standpoint. |
| 0:49.4 | I'm referring, of course, to what could be a massive redistribution of hash power out of China. The reason I'm not |
| 0:55.8 | going to do that show in full right now is that there is still a ton of rumor, innuendo, speculation, |
| 1:02.6 | and not a lot of information, flying thick and fast. I think a day or so more and will have a lot more |
| 1:09.3 | clarity. That said, I do want to give a bit of a |
| 1:12.4 | debrief from the weekend, so we're at least prepared to have that conversation when we do it. |
| 1:16.8 | First of all, the banner headline was another significant crash. The first crash was Wednesday, |
| 1:22.6 | and that one was driven by a combination of FUD, Elon's Environmental FUD, China Banning FUD, and a number of others, |
| 1:29.6 | and leverage. I discussed this quite a bit last week, the positive feedback loop between |
| 1:34.1 | FUD driving small moves that got exacerbated by liquidations, that made those small moves |
| 1:39.6 | look bigger, which made the FUD seem scarier, and so on and so forth all the way down. |
| 1:45.5 | I also spent a fair bit of time breaking down what the fud actually was, specifically around China. Remember, |
| 1:50.7 | the first China fud of the week was a reiteration of policy on the book since 2017, |
| 1:55.9 | that financial institutions really couldn't interact in any meaningful way with crypto or |
| 1:59.8 | crypto-related companies. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.