A billionaire who had a negative view of crypto, Ray Dalio, has expressed his views on Bitcoin. According to him, this major cryptocurrency is suitable to be called a gold alternative for the younger generation, or millennials.
Ray Dalio and His Views on Bitcoin
Being one of the most famous and legendary investment managers, Ray Dalio is now a crypto asset advocate by expressing a view that sounds soothing.
Even so, Dalio still admits that he has little investment in crypto assets. However, the exact value is unknown.
Dalio has also lauded the major crypto for its incredible blockchain technology, and the asset has never been hacked or breached.
In his interview with MarketWatch , Dalio also discussed Bitcoin on the topic of investment portfolios. According to him, Satoshi Nakamoto's crypto can almost be called an alternative to gold for the younger generation.
“.. A portfolio should start with, in the worst case scenario, what assets protect it and ensure it is diversified. It is almost a younger generation alternative to gold and has no intrinsic value, but it does have a calculated value and, therefore, has several advantages,” he added
However, he is also wary of firm steps from the government if he begins to feel the threat from greater interest in Bitcoin from investors.
According to him, stakeholders must have a way to “kill” Bitcoin if this cryptocurrency really manages to dominate.
Prefer Gold
Although he praises and acknowledges the greatness of blockchain and Bitcoin, he will still choose gold.
Of course, Dalio is a seasoned investor who has navigated many economic waves, including several major crises that hit globally.
For him, gold certainly has a very real and proven function as a safe haven asset , so it is impossible for him to just leave gold.
And for the younger generation, Bitcoin is a futuristic digital asset that has performed exceptionally well since its inception. It looks more attractive and offers similar protection to millennials. [ st ]
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