Ray Dalio Calls Bitcoin a Bubble and a Highly Speculative Market

Ray Dalio, who heads the $160 billion Bridgewater Associates, says bitcoin is a bubble.

“It’s very much speculative. People are thinking, ‘Can I sell it at a higher price,’ so it’s a bubble,” he said in an interview Tuesday on CNBC.

Dalio said there are two things that are required for a currency. The first is that it can be used to make transactions, and the second is that it’s a store hold of wealth, he explained.