Ray Dalio Says ‘World Has Gone Mad’ and Bitcoin Crowd Cheers

Ray Dalio is making many friends in the crypto community after sounding the alarm about the perilous conditions in the financial system. In a post entitled “The World Has Gone Mad and the System Is Broken,” the billionaire hedge fund manager outlines why something has to give amid unsustainable circumstances comprised of free money, government deficits,  underfunded pension and healthcare systems, and a rising wealth gap.

Dalio mentions bitcoin zero times. But he strikes the right chords with themes such as the Fed printing money and the threat of “three major world reserve currencies” losing their status “as viable storeholds of wealth.” Never one to miss the writing on the wall, the cryptocurrency community was quick to respond to Dalio’s ominous warning, seemingly taking it as their “I told you so” moment and welcoming Dalio to the bitcoin club, whether he agreed to be a member or not. Morgan Creek Digital Partner and bitcoin bull Anthony “Pomp”…