Billionaire Ray Dalio thinks Bitcoin (BTC) is worth paying attention to.
Dalio, who founded the asset management firm Bridgewater Associates, says on X he owns some BTC, but “not much.”
Still, he says investors should keep an eye on the top crypto asset.
“I can’t say exactly how effective Bitcoin is as a money, but it’s being perceived by many as an alternative money and so is worth paying attention to.
Money needs to be both a medium of exchange and a storehold of wealth — and the latter is more important.
I doubt that any central bank will take it on as a reserve currency. That’s because all of the transactions are public, so there’s no privacy to it, and there’s a risk that in the future the code could be broken to make it less effective through government controls.”
In July, Dalio argued that neutral investment portfolios should contain either gold or Bitcoin as a hedge against the devaluation of the US dollar.
“My own approach is, in my share of my portfolio, I have gold and I have some Bitcoin, but not much… I’m not going to describe my own exactly, but I’ll say the following: if you were neutral on everything, in other words, you didn’t have a point of view, and you were optimizing your portfolio for the best return-to-risk ratio, you would have about 15% of your money in gold or Bitcoin. I’m strongly preferring gold to Bitcoin. But that’s up to you.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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