Bridgewater, the world's largest hedge fund, isn't convinced by the bitcoin narrative yet, but it's listening.

On this week's episode of The Scoop, Bridgewater's director of portfolio strategy Jim Haskel said he's not surprised by the growing institutional interest.

Bridgewater founder Ray Dalio previously said he didn't see bitcoin's merits as a currency, but he amended his statements in a newsletter published earlier this year.

"I believe Bitcoin is one hell of an invention," Dalio wrote at the time.

Haskel said Bridgewater remains skeptical but also recognizes bitcoin's "fantastic" attributes. Though the cryptocurrency's price remains volatile and lacks some of the characteristics of traditional wealth from Bridgewater's point of view, Haskel says he sees potential.

"What I would say is that we certainly have not rejected it as a potential store hold of wealth," Haskel remarked. "We just wouldn’t use it in big size yet."

On this week's episode, Haskell talked about Bridgewater's unfolding bitcoin strategy as well as:

If it's still possible for funds to have access to unsustainable levels of leverage
Whether the inflation alarmists are justified
What the impact of continued recovery will be on assets and how that affects alternative allocations
How Bridgewater started considering bitcoin as an inflation hedge.

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An executive at Bridgewater, the world's largest hedge fund, unpacks bitcoin's role in the macro picture 51:01 Share

The Scoop

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An executive at Bridgewater, the world's largest hedge fund, unpacks bitcoin's role in the macro picture