“They Can See Every Transaction!” Ray Dalio Warns of a CBDC-Controlled Society
“They Can See Every Transaction!” Ray Dalio Warns of a CBDC-Controlled Society
Hedge fund titan Ray Dalio acknowledged the inevitability of central bank digital currencies (CBDCs) while issuing a stark warning that they could grant governments sweeping authority to monitor and control individuals’ financial transactions. He pointed out that behind the convenience of CBDCs lies the risk of their abuse as tools for automated tax collection and foreign exchange control.
According to cryptocurrency-focused outlet Decrypt on Feb. 11 (local time), Bridgewater Associates founder Ray Dalio said in an interview with Tucker Carlson that the adoption of CBDCs is only a matter of time, though he expressed caution about their broader impact. He predicted that investors would prefer money market funds (MMFs) or bonds over CBDCs that offer no interest, suggesting that CBDCs would lack competitiveness as a store of value.
Dalio identified excessive government control as the biggest concern surrounding CBDCs. While full transparency of transaction records could be effective in tracking illicit funds, it would also enable governments to scrutinize individuals’ economic activities in detail. He further warned that authorities could use CBDCs as tools to restrict access to funds or automatically impose sanctions on politically unfavorable groups.
His warning comes as more than 130 countries worldwide are reviewing or advancing plans to introduce CBDCs. According to the Atlantic Council, three countries—The Bahamas, Jamaica, and Nigeria—have already officially launched CBDCs, while 49 jurisdictions, including China, are accelerating adoption through pilot programs.
The blockchain industry has echoed Dalio’s concerns. Harry Halpin, CEO of Nym Technologies, criticized CBDCs by noting that central banks already possess digital infrastructure to monitor commercial banks, and that CBDCs would merely extend this surveillance network to individual accounts. He added that such a model runs counter to the decentralized system envisioned by Bitcoin (BTC)’s creator.
Meanwhile, Dalio has shown flexibility toward Bitcoin, recognizing it as a tool for portfolio diversification. He has advised investors to pay attention to Bitcoin as a form of alternative currency and has at times expressed a preference for Bitcoin and gold over traditional bonds, partially acknowledging the value of digital assets.
Disclaimer: This article is for investment reference only and we are not responsible for any investment losses incurred based on it. The content should be interpreted for informational purposes only.
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