Ray Dalio, founder, and investment director of hedge fund Bridgewater Associates, has changed his mind about cryptocurrencies and called them an interesting investment asset.
In a Q&A session on the popular Internet forum Reddit, the founder of the world’s largest and most prominent hedge fund said that Bitcoin and other cryptocurrencies over the past 10 years have “proven their worth” as an alternative to gold. Cryptocurrencies are like gold and “various mobile assets for storing limited wealth.”
“Bitcoin can serve as an asset to diversify investments in gold and other defensive assets. The main thing is to have different assets in your bucket, including stocks, and diversify them,” said Ray Dalio.
At the same time, Dalio emphasized that if we compare Bitcoin with gold, then he will certainly prefer the asset that is stored and used for exchange by the central banks of different countries.
Previously, the investor was much more skeptical about Bitcoin and other cryptocurrencies. Then he said that Bitcoin has significant disadvantages and is not suitable as a replacement for gold or for use as a currency.
