Prominent investor Ray Dalio has predicted that Bitcoin is unlikely to be adopted as the reserve currency by central banks. "I doubt that any central bank will take it on as a reserve currency," he said.
Bitcoin will struggle to gain traction with central banks due to its lack of privacy, the billionaire argues.
Furthermore, Dalio has suggested that Bitcoin's code could end up being "broken" in the future, a claim that has ruffled the feathers of numerous Bitcoin advocates.
That said, the legendary investor claims that BTC is "worth paying attention to."
Dalio's Bitcoin holdings
As reported by U.Today, the legendary hedge fund manager previously endorsed a 15% allocation to Bitcoin during a July appearance on the "Master Investor" podcast.
In his most recent, he has stressed that he owns "some Bitcoin," but he is not willing to go overboard with this allocation.
Dalio first purchased the original cryptocurrency back in May 2021 after criticizing it in the past.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team