According to the billionaire, bitcoin serves as a type of money and is also an alternative to gold.
Ray Dalio – a prominent investor and founder of Bridgewater Associates – believes humanity is entering an era where there will be a competition of money, and bitcoin will be part of that contest. The primary cryptocurrency is also an alternative to gold, the billionaire added.The 72-year old American has not always been such an advocate of the leading digital asset.
his admiration for it, stating its longevity is “an amazing accomplishment.” A few months later, the investor admitted he had allocated a relatively small part of his wealth into BTC.with Lex Fridman, Dalio reiterated his support for bitcoin. He explained that the reason that changed his view over the years is the evolution of the asset:
The billionaire opined that the vast amount of fiat currencies in circulation caused by the controversial policies of some governments will reconstruct the global financial system. Bitcoin will be a part of that revolution since it is “alternative money,” he added.At the same time, BTC could also be viewed as a substitute for gold since it serves as a medium of exchange, is portable, and is recognized globally.
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