Billionaire Ray Dalio Praises Bitcoin for its Stability

Billionaire Ray Dalio Praises Bitcoin for its Stability

February 10, 2022 0 By Keith Jacobs

Billionaire investor and financial expert, Ray Dalio has recently opened up about his revisited stance on Bitcoin. It is worth noting that like his contemporary, Warren Buffet, Dalio started as a Bitcoin skeptic during the earlier years of its conception. Ray Dalio is known for founding the biggest hedge fund in the world called Bridgewater Associates with a record AUM valued at $140 billion in 2020.

Speaking to the journalist at MarketWatch, Dalio recently claimed that Bitcoin has proven its stability by not being hacked throughout the 12 years of its operation. He also claimed that with the help of Bitcoin, the broader blockchain industry was able to cement its position and earn its capability. It is worth mentioning that for most of the current year, the Bitcoin dominance index stayed above 41%.

Ray Dalio recently told the media that big financial operators like central governments and banking enterprises may feel threatened by the increasing influence of Bitcoin and cryptocurrencies. He admitted that he has not always been a Bitcoin fan but now he has added a little amount of the top coin to his investment portfolio.

Dalio also commented that Bitcoin has managed to acquire the position of a gold-alternative among the younger generations. The revisited stance of Dalio on the flagship cryptocurrency is not a big surprise. In September, Dalio came out for the first time as a Bitcoin investor and evangelist. He told the media in his current interview that Bitcoin does not pack any inherent value but it has gathered imputed value over time.

It is not fair to assume just yet that Ray Dalio has become the ultimate Bitcoin maximalist like Michael Saylor from MicroStrategy. When asked about his investment preferences, Dalio replied that he still prefers gold over Bitcoin as an investment diversifier. He also provided an interesting analogy by claiming that if anyone puts a gun to his head and asked him the same question.

He would still side with gold as the better store of value. Dalio has made it clear to the media that he has started to see Bitcoin as a potential investment diversification option. A few days ago, Ark Invest CEO, Cathie Woods told the media that the inner workings of Bitcoin make its pricing dynamics are very different from other investment options; therefore it has become an ideal investment diversifier among institutions.