Billionaire Ray Dalio Says He Doesn’t Own Much Bitcoin, But He Thinks BTC Is ‘Worth Paying Attention To’ – Here’s Why
Billionaire Ray Dalio thinks Bitcoin ( BTC ) is worth paying attention to.
Dalio, who founded the asset management firm Bridgewater Associates, says on X he owns some BTC, but “not much.”
Still, he says investors should keep an eye on the top crypto asset.
“I can’t say exactly how effective Bitcoin is as a money, but it’s being perceived by many as an alternative money and so is worth paying attention to.
Money needs to be both a medium of exchange and a storehold of wealth — and the latter is more important.
I doubt that any central bank will take it on as a reserve currency. That’s because all of the transactions are public, so there’s no privacy to it, and there’s a risk that in the future the code could be broken to make it less effective through government controls.”
In July, Dalio argued that neutral investment portfolios should contain either gold or Bitcoin as a hedge against the devaluation of the US dollar.
“My own approach is, in my share of my portfolio, I have gold and I have some Bitcoin, but not much… I’m not going to describe my own exactly, but I’ll say the following: if you were neutral on everything, in other words, you didn’t have a point of view, and you were optimizing your portfolio for the best return-to-risk ratio, you would have about 15% of your money in gold or Bitcoin. I’m strongly preferring gold to Bitcoin. But that’s up to you.”
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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