Bitcoin’s price will soar higher in 2022, says Ray Dalio
The cryptocurrency market has experienced massive growth this year, and it is expected to grow even bigger in 2022.
Bridgewater Associates head Ray Dalio recently talked about Bitcoin and the broader cryptocurrency market. According to Dalio, Bitcoin has proven itself, and the leading cryptocurrency is set to become even more valuable in the coming years. He stated that;
"It has proven itself. It has not been hacked, it has operated in an amazing way over that 11 years to be probably the most exciting topic among a lot of people. It has been used and is now obtained the status of having imputed value."
Dalio has been a strong advocate for cryptocurrencies over the past few years and believes that the value of Bitcoin and other leading cryptos will increase in the coming year. The billionaire also touched on the rise of nonfungible tokens, stating that their value would increase over time.
According to him, nonfungible tokens are real. However, similar to other developments in their early days, NFTs need time to settle and get perceived by the society. He added that he intends to own NFTs.
The cryptocurrency market has experienced massive growth over the past few months, with the prices of most coins rising by more than 100% during that period. Bitcoin began the year trading above $30k but is now trading above $50k, up by more than 70% over the past few months.
Ether, the second-largest cryptocurrency market cap, has also rallied by more than 100% since the start of the year and is now trading above $4,000 per coin. The total cryptocurrency market cap currently stands above $2 trillion, a huge improvement from the $1 trillion recorded earlier this year.
Several market experts and analysts predict that Bitcoin's price will soar higher in 2022, with some adding that it could touch the $100,000 mark over the next few months.