• Ray Dalio is the billionaire founder of Bridgewater Associates and he is not a fan of bitcoin.
• He does not understand why people prefer bitcoin over gold, citing its volatility and lack of government oversight.
• Despite acknowledging that bitcoin has had some successful bull runs, he remains unconvinced by it due to its unpredictable nature.
Ray Dalio Still Doesn’t Think Much Of Bitcoin
Billionaire investor and founder of Bridgewater Associates, Ray Dalio, has never been a big fan of Bitcoin. In his latest interview, he reiterated his opinion that Bitcoin is too volatile and speculative to be taken seriously.
Why Is He Rejecting Bitcoin?
Dalio believes that gold is a better alternative to fiat money than cryptocurrency or Bitcoin because it has more reliable value movements. Additionally, he views crypto as an overly small asset class compared to stocks like Microsoft.
What Has He Seen With Bitcoin?
In addition to believing that crypto doesn’t move in relation to anything else reliably, Dalio has seen people get very rich off it as well as very poor off it.
What Does The Future Hold?
For now at least, it looks like Dalio won’t change his opinion on Bitcoin anytime soon despite its current bull run. He still sees too much uncertainty surrounding the digital asset for him to fully trust it.
Though there are many out there who believe strongly in the potential of crypto assets such as Bitcoin, Ray Dalio’s opinion shows that there are still many skeptics who remain unconvinced by them due to their perceived unpredictability.