The founder of the management company Bridgewater Associates urged investors to switch their attention from traditional debt instruments to gold and Bitcoin.
Ray Dalio, speaking at a finance conference in Abu Dhabi, expressed concern about the growing public debt of the United States, China and other large countries. Rising government debt could lead to greater financial problems, including the devaluation of fiat currencies, Dalio fears.
The billionaire said he prefers to stay away from financial instruments issued to raise funds by governments or corporations. Dalio believes it makes more sense to focus on “hard assets,” namely gold and Bitcoin. They are independent of central authorities and can protect assets from risks associated with economic uncertainty, Dalio assured.
The investor identified five main factors shaping the global economy: debt dynamics, internal political divisions, geopolitical tensions, natural disasters and technological innovation. Dalio recommended that investors think strategically—focus on long-term trends rather than short-term market fluctuations—and diversify their portfolios with Bitcoin.
Last year, Ray Dalio did not believe that Bitcoin could replace government currencies and serve as money due to its high volatility. In 2022, Dalio doubted that Bitcoin could fully compete with gold.
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Source: Cryptocurrency
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