The founder of the world's largest hedge fund Bridgewater Associates made his first clear statement: Bitcoin is a bubble

Ray Dalio, founder of the world's largest hedge fund Bridgewater Associates, said in an interview with CNBC on the 19th: "Now, you can't use Bitcoin for transactions, nor can you use it very conveniently... Bitcoin is a bubble."

In an interview with CNBC’s Squawk Box, Dalio expressed his disbelief in Bitcoin:

Right now, you can’t trade with Bitcoin, nor can you use it very conveniently. Bitcoin is not a particularly effective store of value like gold due to its huge volatility. Given the speculative nature of the Bitcoin market, Bitcoin is a bubble.

Dalio went on to say that Bitcoin can hardly even be called a currency in terms of transaction convenience and value storage function:

It’s a shame because Bitcoin could be a currency. In theory, Bitcoin could work like a currency, but the massive amount of speculation and lack of transaction convenience has hurt Bitcoin a lot, making it difficult to become a currency.

This Tuesday, Dalio's red book "Principles: Life and Work" will be published. He plans to share his management system and Bridgewater Fund's unique corporate culture with readers around the world.