Ray Dalio: bitcoin is a modern alternative to gold

The investor urged traders to diversify their portfolios as much as possible and include different asset classes

17.12.2021 - 07:50

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1 min

What’s new? Billionaire Ray Dalio believes bitcoin is an alternative to gold for today's youth. According to the founder of the Bridgewater Associates hedge fund, today's investor's portfolio should be diversified as much as possible, and, among other things, including cryptocurrencies. He said this in a commentary to MarketWatch.

Material on the MarketWatch website

What else did Dalio say? According to the businessman, even though the authorities in several countries are trying to declare digital currencies illegal, the blockchain revolution is on its way. Dalio believes that it is unlikely that the governments around the world will ban digital assets. But they will not include them in their calculations as reserve currencies either, the billionaire added.

As for his own portfolio, Dalio said it also contains bitcoin as well as other asset classes. The businessman stated that he prefers not to hold only cash because it “gets eaten up by inflation.”

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