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Bitcoin Skeptic Dalio Reduces Role After Hedge Fund’s Tough Year.

During that same timeframe, Bitcoin went from around $7,500 to close the year just below $30,000—a roughly 400% increase.

Just last January, pre-pandemic, the billionaireinvestor called Bitcoin “too volatile”and urged gold instead as a store of value—an asset that doesn’t depreciate over time and acts as a hedge against inflation. .

In January, Bridgewater analyzed Bitcoin’s performance as an inflation hedge as well as how gold and Bitcoin had performed during market dips.

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