Legendary billionaire hedge fund manager, the founder and co-chief investment officer of Bridgewater Associates, has recently slammed Bitcoin ($BTC) and other cryptocurrencies as they don’t “replicate anything” and are “not an effective storehold of wealth.”

During an interview  with We Study Billionaires, the legendary investor, who has an estimated net worth of over $19 billion, said that while blockchain technology is “excellent,2 it’s “very important to distinguish it from a digital currency.”

Per his words, there have been various fads in the cryptocurrency sector, but the digital assets within it “don’t replicate anything” and are “not an effective storehold of wealth.”

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