The famous billionaire name Ray Dalio, who is closely followed by the crypto money market, made critical words for the investors of the leading cryptocurrency Bitcoin (BTC). However, by sharing his predictions for the future for Bitcoin, he pointed to another asset! Here are the details…
Ray Dalio is moving away from the leading cryptocurrency Bitcoin!
The famous billionaire name Ray Dalio, whose name we have previously transferred as Kriptokoin.com, explained his views on a podcast with Chris Williamson and announced that he prefers gold instead of Bitcoin (BTC). The famous name also states that although he prefers gold, gold does not offer Bitcoin’s features such as transaction tracking and “not liked by the government”. In addition, the famous name Microsoft, with a smaller market value, why Bitcoin attracts more attention, “Who knows, maybe there is something I don’t understand.” explained in his own words and quoted the following words:
Its size is about 30 percent of Microsoft, and Microsoft is just one stock among many. But it gets much more attention.
Explaining that he prefers gold instead of Bitcoin, the famous investor said that gold is the third asset with the highest reserves among central banks after the dollar and the euro, adding that the yellow metal is timeless and universal.
Billionaire and founder of hedge fund Bridgewater Associates, Dalio also conveyed to investors that he holds a small amount of Bitcoin. However, given its extreme volatility, he sells his BTCs as they rise to limit downside risk, and the famous name does not think much about BTC.
Is the cryptocurrency industry depressing the sanity of investors?
In the latest podcast, the famous billionaire and Williamson stated that being a crypto investor includes great challenges, and that the crypto world may be playing with the sanity of investors. Commenting on Dalio’s choice of gold as a bias towards “less sane investment forms,” Williamson said, “There’s a price you pay for volatility. But you pay the price with your own sanity.” in his words.
However, Dalio agrees with this assessment made by podcast owner Williamson and explains that while there are many investors who are rich with crypto, there are also many investors who are left without money because of it.
On the other hand, in the past weeks, the successful investor also stated that he believes there is a difference between blockchain technology and digital currencies. According to Ray Dalio, while the former is an excellent technology, the latter is not a good option for investors. The billionaire also believes that better digital currencies will emerge in the near future that will provide the equivalent of inflation and purchasing power. Although he draws attention with his criticisms of crypto projects, the famous name appreciates the technology behind cryptocurrencies, but states that he has to add that the hype they get behind them is “disproportionate” to their real values.
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