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Here's Why Ray Dalio Prefers Gold Over Bitcoin

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Wed, 4/08/2021 - 19:08
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:

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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.

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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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