Billionaire Ray Dalio, hedge fund manager Bridgewater Associates, is bullish on Bitcoin, but prefers gold.
Billionaire
saidthat owns a “very small amount” of bitcoin, but if he had to choose between gold and bitcoin, he would go with the first option. At the same time, Dalio called bitcoin “digital gold” and an important tool for diversifying the investment portfolio.
“If you put a gun to my head and say that I have to name only one asset, I will choose gold,” Dalio joked.
He has long been considered a proponent of this precious metal. In 2019, the billionaire said that investing in gold can “balance” a portfolio, reducing its risks and increasing its profitability. In the second quarter of last year, the hedge fund Bridgewater invested more than $ 400 million in gold. According to Dalio, this is the most attractive asset for preserving value and protecting against inflation. In addition, central banks hold over 35,000 metric tons of gold, which is about a fifth of all gold mined.
Earlier, Dalio predicted tightening of regulation of crypto assets and even their possible ban in the United States, as was the case with gold in the 1930s. He admits the possibility that Bitcoin will eventually be outlawed by the US government.
Despite his interest in bitcoin, Dalio is still wary of it, as he is not sure which way he can go: up or down. Recently, at the Consensus conference, a hedge fund manager stated that he would prefer to buy bitcoin over bonds.
However, Dalio is not as ardent against cryptocurrencies as he once was. Last year, he said that Bitcoin has many disadvantages, including high volatility and weak regulation.
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