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Here's Why Ray Dalio Prefers Gold Over Bitcoin

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Wed, 08/04/2021 - 19:08
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Alex Dovbnya
Billionaire Ray Dalio sees Bitcoin as a means of diversification
Here's Why Ray Dalio Prefers Gold Over Bitcoin
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Legendary hedge fund manager Ray Dalio still prefers gold over Bitcoin despite warming up to the largest cryptocurrency:

If you put a gun to my head, and you said, ‘I can only have one.’ I would choose gold.

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The American billionaire told CNBC Make It that he views the lustrous metal as the superior store of value since it has been around for thousands of years.

Despite being a naysayer in the past, Dalio revealed that the top coin was part of his portfolio back in May.

However, he says that he owns “a very small amount” of Bitcoin, which might not be enough to turn him into a cheerleader.

Speaking of Bitcoin’s price action, Dalio is candid about having no idea what’s the next move is going to be:

By and large, I don’t really know whether bitcoin is going to go up or down. I could argue both sides of that.

Bitcoin is currently trading at just above $35,000 on major spot exchanges after a minor recovery. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.