Bitcoin or gold? Billionaire Ray Dalio has the answer

Billionaire Ray Dalio views the largest and oldest cryptocurrency as ‘digital gold’. However, if they asked him which one he would prefer, bitcoin or gold, he would say, “If you put my gun on my head and said, ‘I will live only one,'”, “I would choose gold.” This Sunday, the 72-year-old American investor is still looking at the currency, which saw unprecedented growth last year.

The founder of the Bridget Associations, an American investment management company, has previously stated that it “has an unknown amount of Bitcoin.” But he has repeatedly expressed concern about the global currency, at least temporarily.

In a recent interview with CNBC, Dalio said he had a very small amount of Bitcoin. “I am not a big owner,” he added. There are certain assets that you have to duplicate the portfolio and bitcoin is something like “digital gold”.

He added that Bitcoin is a small fraction of the larger investment puzzle and considers virtual currency to be “plural”. Dalio added that in general, he did not know if Bitcoin would go up or down. In this way I can argue on both sides.

According to Dalio, constant evaluation of your investments is key. He advised them to refrain from buying assets such as Bitcoin just because of a temporary boom. “Be careful what you put in your money,” he said. And make diversity global, not just in the United States.

Speaking at CoinDesk’s annual joint conference in May 2021, Dalio said he would prefer Bitcoin rather than a bond as a barrier to inflation. He also said that the biggest risk with Bitcoin is its success. Among other risks, the Dalio government has warned Bitcoin lovers about its ability to control digital currencies. They know where they are and what is going on, ”he said.

On Friday afternoon, the value of Bitcoin in India was about 30,10,752 rubles.

Interested in cryptocurrency? We discuss everything crypto with WazirX CEO Nishel TT and weekend investor founder Alock Jane at Orbit, Gadgets 360 podcast. Orbit is available wherever you find Apple Podcasts, Google Podcasts, Spotify, Amazon Music and Podcasts.


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