Introducing himself on the Lex Fridman podcast, Ray Dalio issued opinions related to the influence that Bitcoin currently exerts among securities. The Bridgewater Associates boss and billionaire investor made his belief that crypto assets remain “alternative” values for him.
Cryptocurrencies as secondary securities
Dalio expressed his position on the growth of the crypto world, pointing out that he prefers traditional securities over crypto. He considers that although a refuge could be sought in BTC, this asset would not be the first that he would take into account.
Opinions emanated indicate that although cryptocurrencies have gained momentum in recent years, to an outstanding position, this is not everything. Ray Dalio comments that apart from Bitcoin (and among secondary values), there is a variety of assets that make it “competition.”
Make it clear that your interest continues to lean towards other securities, such as Gold, for example. This position is mentioned while supporting the “universal” recognition granted to the metal representing money. ‘Can’t be traced. In the case of BTC, it can be traced, who is its owner, etc. “, he commented.
To this opinion he added the fact that unlike cryptocurrencies, Gold is used by large banks worldwide. Its participation as a safe haven occupies much more ground than the volatile crypto market.
In addition, he added that Bitcoin will have to face the rest of the market, keeping in mind that more and more crypto assets appear. In this sense, this crypto would remain as one of the many investment possibilities in his perspective.
“Bitcoin is part of that competition, but there will be many currencies (not just cryptocurrencies)”, Ray Dalio said about it.
Curiosity persists
Although he does not see the crypto environment as essential, he does not rule out the possibility of participating in the crypto world at some point. Instead, he says he is somewhat “curious” about how this industry is performing today.
Not only did he look at the performance of major cryptocurrencies, he also turned his gaze towards other digital assets, such as NFTs. “I definitely want to buy NFT … This is happening, it’s real,” he said.
Nonetheless, it appears that he will continue to watch this scenario less closely, considering his view of various assets ahead of crypto. Although he partially supports BTC and other crypto assets, he does not believe that it is possible for them to reach such high prices.
Counterbalancing Elon Musk’s views on boosting the market, Ray Dalio doesn’t see a possibility that prices (including Bitcoin) will “hit the moon.”
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