[Digital Today reporter Chi-gyu Hwang] Ray Dalio (레이 달리오), founder of hedge fund Bridgewater Associates, warned that the order built after World War Two has officially collapsed and an era has arrived in which power replaces rules, a “law of the jungle.”

Cointelegraph reported on Feb. 16 that Dalio, analysing recent internal and external turmoil, said major powers are falling into a “prisoner’s dilemma” in trade, technology, capital flows and military clashes. He said this creates a dangerous environment that could trigger foolish wars.

He said that as economic instability deepens domestically, governments are seeking to cope with debt through high taxes and monetary expansion. He said this erodes the value of existing assets and creates conditions in which non-state assets such as bitcoin (BTC) and gold show strength.

He also emphasised that countries are using asset freezes, capital market bans and embargoes as standard tactics. Cointelegraph reported that this shows how vulnerable the traditional financial system is to political risk and highlights the need for a neutral, borderless currency. Hunter Horsley (헌터 호슬리), CEO of Bitwise, said, “A global, permissionless, non-political monetary asset and financial system will become important.”