The founder of the Bridgewater Associates Management Company Ray Dalio advised investors to allocate at least 15% of the portfolio with gold and bitcoin in order to protect themselves from economic risks that the market of shares and bonds.

In the podcast The Master Investor Podcast, Dalio said that macroeconomic risks associated with the growth of public debt of the United States and other countries were not taken into account by the stock market, which can eventually collapse. According to Dalio’s estimates, the US authorities spend 40% more than they receive, and cannot reduce their expenses. The United States has accumulated public debt six times higher than the amount that taxes bring, and interest payments reached $ 1 trillion per year, which is half the budget deficit.

The founder of Bridgewater Associates believes that the American authorities can pay their debts only through the release of new bonds and money printed in the US Federal Reserve (Fed), and this creates even greater tension in the markets. According to Dalio, bitcoins and gold are able to protect funds from depreciation of fiat currencies and their equivalents, including bonds.

Dalil said that he himself prefers gold to Bitcoin, because he doubts that any central bank would agree to make bitcoin backup currency. Due to the openness of cryptocurrencies, everyone can understand and track who makes which transactions with it, so we are not talking about confidentiality. The asset manager said that Bitcoin outweighs gold in his portfolio.

“I have gold and a little bitcoin, but not so much,” Dalio explained.

The investor previously said that state currencies lose value – however, he doubted that Bitcoin and stabilcoins were able to replace ordinary money. In 2022, Dalio said that Bitcoin is unlikely to become a full -fledged competitor to gold.