Crypto skeptic Ray Dalio calls Bitcoin an ‘interesting’ alternative to gold

Over the past decade, Bitcoin and other cryptocurrencies have proven themselves and become an attractive alternative to gold. Ray Dalio, the billionaire and founder of Bridgewater Associates, the world’s largest hedge fund, wrote on the Reddit forum.

In discussions with users, the billionaire pointed to the similarity of digital assets to gold and ‘store of wealth’ with a limited supply and mobility.

“The key is to have a diversified mix of assets in your portfolio, including stocks, and to diversify them,” Dalio noted.

Comparing the first cryptocurrency with gold, the founder of Bridgewater Associates stressed that he would favour the central banks’ reserve asset.

Dalio had previously criticised Bitcoin. In January 2020 he described the coin as a speculative asset that is ineffective as a medium of exchange and as a store of wealth.

In November, the billionaire doubted Bitcoin’s prospects and said that, should the government succeed, it would be outlawed.

Earlier, a week after that statement, Dalio admitted that he could have been wrong about the first cryptocurrency.

Follow ForkLog news on Facebook!