Crypto-friendly Ray Dalio steps back from Bridgewater’s $150 million fund

After 47 years in charge of the world’s largest hedge fund, Bridgewater Associates, its founder Ray Dalio has finished a leadership transition that began in February. He is no longer one of three co-chief investment officers but will remain a chief investment officer mentor and Operating Board member.

As announced on Oct. 4 on Bridgewater’s corporate website, the firm and Dalio completed the necessary and required legal, regulatory and investor requirements to finish the transition procedure. From now on, the fund will be led by co-CEOs Nir Bar Dea and Mark Bertolini, and a pair of co-chief investment officers: Greg Jensen and Bob Prince.

One of the most powerful figures in the global financial market, Dalio demonstrated a healthy evolution of his views on crypto. Back in 2017, he called Bitcoin (BTC) a bubble due to ​​the amount of speculation and the lack of transacti