Billionaire Ray Dalio "stoned" cash, but Bitcoin is not an alternative

Billionaire Ray Dalio:

In one interview recently with TED, Ray Dalio, Bridgewater Associates co-chairman and CIO, said that cash is an unsafe place to hide, although he doesn't refer to Bitcoin (BTC) as an alternative. .

"Don't think that cash is a safe investment," Dalio told TED Corey Hijam's interview on April 9.

"Cash is an attractive investment because it's less volatile, but you'll be taxed and your purchasing power at around 2% per year," Dalio said of the stability of the US dollar, combined. with an annual inflation rate.

Difficult times lead to a safe shelter

In the face of recent coronavirus prevention measures, which make it difficult for economies around the world, all markets of all sizes are faced with a decline in value, which has pushed the home market down. The investment came with cash.

"Cash is almost always the worst investment," the billionaire in the top 50 of Forbes said. "You should think a little differently," he added, referring to the allocation of capital to gold as an option, as well as emphasizing the importance of portfolio diversification.

However, Dalio did not mention Bitcoin as an option in this interview.

Dalio once commented on Bitcoin

Dalio mentioned Bitcoin in early 2020 in an interview with CNBC, where he claimed that Bitcoin was too volatile to become a true store of value.

“Money has two main functions; one is the means to exchange and the other is to store assets, ”the famous billionaire said. "Bitcoin is currently ineffective in both cases."

Dalio especially noted Facebook's Libra as a promising option. He also added that big players, such as central banks, are more likely to turn to gold than Bitcoin.

Meanwhile, billionaire Chamath Palihapitiya recently mentioned the volatility and current use case of Bitcoin is ineffective, he pointed out the potential application of leading digital assets in about 10 years from now, while waiting for different contexts.

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According to CoinTelegraph
Translated by ToiYeuBitcoin


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