Ray Dalio is the founder of one of the largest hedge funds in the world. Recently, he expressed his opinion that investments in bitcoin and gold can be banned by the US authorities. According to Dalio, the US authorities will raise taxes in the future, and the higher they are, the more people and companies will try to run into cryptocurrencies to avoid paying them. First of all, we are talking about raising taxes for the rich and for large companies, which has already been announced by US President Joe Biden. According to his initiative, which he voiced during the election race, taxes should be raised so that the country can raise funds for recovery from the coronavirus crisis. At the moment, a new package of stimulus measures for the US economy in the amount of 2-4 trillion dollars is being discussed. And one of the sources of funding for this package will be just an additional fiscal burden on rich people and large companies. "Policymakers who are short of money will raise taxes and won't like these capital movements out of debt assets and into other storehold of wealth assets and other tax domains so they could very well impose prohibitions against capital movements to other assets (e.g., gold, Bitcoin, etc.)," Dalio said. There is also an opinion that the ban on cryptocurrencies may be introduced due to the desire of the US government to increase investments in the stock and debt markets. In any case, this is what we have talked about many times: bitcoin is very much hindering the authorities of any country and, in particular, the American ones. All these rumors grow like mushrooms, not from scratch. More and more experts point out that any decentralized currency that is not controlled by the central bank is a "bone in the throat" for the state. However, the vast majority of financiers recommend not to worry about this. If there will be a ban on cryptocurrencies, it will be gradual and for the entire industry at once, and not for individual investments in bitcoin or other tokens. Experts also note that a ban on investing in cryptocurrencies can undermine faith in the financial system and the state, as well as significantly increase the demand for digital assets, so it is unlikely. Analysts believe that the actions of the US government and the Federal Reserve will be aimed at expanding the tax base in order to increase revenues from the cryptocurrency segment to the state treasury. At the same time, it is unlikely that the government will give up trying to fully control the cryptocurrency segment.
Meanwhile, bitcoin has started a new round of decline, but so far it is holding above the first important support-the Kijun-sen line, which lies at the level of $52,300. A rebound from it can trigger a new round of upward movement. Fixing the price lower can lead to the long-awaited strong round of correction of the number one cryptocurrency in the world.
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