Ray Dalio cautions on Bitcoin, says ‘there is only one gold’
Ray Dalio says that gold is a better safe-haven asset in times of conflict compared to Bitcoin, and raised concerns about the cryptocurrency’s lack of privacy.
Billionaire investor Ray Dalio has warned against Bitcoin as a long-term store of value and safe-haven asset, arguing that it has little central bank support and has lingering concerns over its privacy limitations and quantum resistance.
Dalio dismissed the idea that Bitcoin (BTC) can function as a digital gold, telling the All-In Podcast on Tuesday that “there is only one gold.”
“Gold is not a precious metal that’s speculated on,” Dalio said, adding it is the “most established money” that is the second-largest reserve currency held by central banks.