• Ray Dalio, the founder of Bridgewater Associates, has never been a big fan of Bitcoin.
• He doesn’t understand why people prefer bitcoin to gold and only holds a little bitcoin.
• He believes that gold is more reliable than cryptocurrency because it is easier to track, less volatile and more consistent with its environment.
Ray Dalio Still Doesn’t Think Much of Bitcoin
Ray Dalio – a billionaire and the founder of Bridgewater Associates – has never been a big fan of bitcoin. He doesn’t seem to care for it, and he also doesn’t really seem to understand it. Per his latest interview, it becomes apparent that this hasn’t changed as he still refuses to see the light on the growing cryptocurrency industry and its commander-in-chief BTC.
Why Ray Dalio Prefers Gold Over Bitcoin
In his interview, Dalio specifically touted gold and said that he didn’t understand “why people are more inclined to go to bitcoin than gold.” As a gold fanatic, he often touts its stability and history, and while he holds bitcoin at press time, he only has a little amount of BTC in his portfolio. Citing the problems of the crypto industry, he said: „Cryptocurrency or bitcoin doesn’t move in a reliable way related to almost anything.“ He went on further claiming that gold cannot be beaten in terms of its strength as „Gold is [a] well established blue-chip alternative to fiat money.“
The Problems With Bitcoin According To Ray Dalio
Dalio claims that compared with other assets like Microsoft (which is one stock among many stocks), Bitcoin is too volatile and speculative for him to put any trust into it as an asset class. He says the results surrounding bitcoin are very up and down which makes him hesitant when investing in BTC or cryptocurrencies in general.
What Does The Future Hold?
Unfortunately, it appears Ray has a point with his statements given the price of bitcoin has been very north and south over the past 18 months or so. It can’t stay still which could mean investors‘ portfolios may not be stable if they invest solely in this digital currency market – something most investors want from their investments!
Despite all this however, there are still many who believe in this new asset class enough that they’re willing take risks on them – Ray just isn’t one these individuals yet!