Ray Dalio, some of the outstanding hedge fund managers of all time, stated that he prefers gold and Bitcoin over bonds throughout a latest monetary convention.
He has warned about unsustainable quantities of debt in nations just like the US and China.
Dalio revealed that he owned some Bitcoin for the primary time again in Could 2021. Nonetheless, he additionally warned that the main cryptocurrency might find yourself being killed by the federal government if it had been to turn out to be too profitable.
Throughout the identical yr, the billionaire acknowledged that Bitcoin was “the youthful era’s various” to gold.
In 2023, Dalio seemingly adopted a extra bearish tone, arguing that Bitcoin was having fun with disproportionate consideration in comparison with different property.
Later, he additionally stated that he didn’t perceive why some buyers had been extra inclined to select Bitcoin over gold. He described the yellow metallic as a “blue-chip” fiat cash various whereas pointing to the truth that crypto was nonetheless a small asset class that solely accounted for a fraction of main firms like Microsoft.
As reported by U.In the present day, Bernstein not too long ago predicted that Bitcoin might substitute gold as the first retailer of worth over the subsequent decade.