Dalio sees gold as a hedge versus inflation however likewise has a little bit of BTC in his portfolio.
Hedge fund supervisor Ray Dalio states he’s still bullish on Bitcoin however has a higher fondness for gold.
Speaking to CNBC on August 4, the billionaire financier confessed to owning a “very small amount” of Bitcoin however stated that he would select gold if he needed to make the option in between the 2.
“If you put a weapon to my head, and you stated, ‘I can only have one. I would choose gold.”
But he added that he sees Bitcoin as digital gold and that i remains an important way to diversify. “There are certain assets that you want to own to diversify the portfolio, and Bitcoin is something like a digital gold,” he said.
Dalio has been a long-term gold bull, with his Bridgewater hedge fund having poured more than $400 million into gold in the second quarter of last year. In 2019, he wrote that adding gold can help balance a portfolio because it is both risk-reducing and return-enhancing.
The store of value properties makes it attractive to Dalio who considers it a natural hedge against inflation. Central banks currently hold more than 35,000 metric tons of gold, which equates to about a fifth of all gold ever mined.
Dalio has previously warned about possible regulation of crypto assets and even a potential ban in the U.S. just as it did with gold ownership in the 1930s. In Dalio’ s mind, there is “a reasonable chance” that Bitcoin might become disallowed by the federal government.
He stays careful about Bitcoin however still desires it in his portfolio for diversity functions, including “By and large, I don’t really know whether Bitcoin is going to go up or down. I could argue both sides of that.”
In May, he specified that he would choose to buy BTC over bonds throughout an interview at the Consensus crypto conference.
Related: Ray Dalio does 180 on Bitcoin, calls it ‘one hell of an invention’
At the time of composing, gold is trading at $1,810/ oz having actually lost 4.4% considering that the start of the year. Bitcoin, on the other hand, is up 36% over the exact same duration trading at $39,360 according to CoinGecko.
Another billionaire musing on Bitcoin in current days is investorMarc Andreessen In a brand-new interview with Bloomberg on Tuesday, the co-founder of Andreessen Horowitz stated BTC was “one of the most amazing things I’ve ever seen” and a “fundamental technological breakthrough.”
However the report recommended he was more passionate about the decentralized system it is constructed on. He stated “many of the smartest people in computer science are going into this field,” including that it represented “a new kind of financial system” where individuals are “able to form trust relationships in an untrusted environment.”
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