Billionaire Ray Dalio: Bitcoin is almost an alternative to gold for the younger generation

In a recent interview with MarketWatch, the 72-year-old billionaire who made Bridgewater Associates the world’s largest hedge fund, Ray Dalio revealed that he not only disclosed his holdings in a fraction of Bitcoin, but also praised how the leading cryptocurrency is developing . since its inception. He points out that it was never hacked or harmed.

Billionaire Ray Dalio

Billionaire Ray Dalio: Bitcoin is an alternative to gold for the young generation

“There’s a lot of money behind all kinds of money, including cryptocurrencies.” These are the words of the founder of the world’s largest hedge fund Bridgewater Associates. Calling it an incredible feat for Bitcoin, the billionaire said he believed in blockchain technology because it built credibility.

Dalio wasn’t always a fan of Bitcoin. But now he admits that there is a “tiny bit” of crypto in his portfolio. On the subject of portfolio, Dalio also mentioned that Bitcoin is almost an alternative to gold for the younger generation.

“.. in the worst case scenario, a portfolio should begin with which assets protect it and ensure that it is diversified. It’s pretty much an alternative to gold for the younger generation, and it has no intrinsic value, but it has underlying value and therefore has some value, “he said.

After Dalio said this, he said that some of the problems were related to Bitcoin. He predicts that some governments could ban cryptocurrencies if they believe they pose a threat to the establishment or if they become relatively attractive. He doesn’t think central banks or large financial institutions will hold any significant amount of BTC. This is not the first time the founder has made such a statement. In early September, Dalio said that regulators could kill Bitcoin if they really succeed and if they have a way to kill it.

It is not yet known whether Dalio will actually be sold purely according to the Bitcoin concept. Although he has reiterated his optimism about blockchain and believes the cryptocurrency has made a significant impact, Dalio is not a big owner of bitcoin.

He announced this in early 2021 and said he would choose gold over Bitcoin if someone pointed a gun at his head and asked him to choose. The billionaire may have been interested in the crypto space, but he still appreciates gold. The reason Dalio prefers Bitcoin at this stage seems to be for diversification only.