Billionaire Ray Dalio, during a podcast with Lex Fridman, called Bitcoin ‘alternative money’ and spoke about an interest in non-fungible tokens (NFTs).
In his view, fiat currencies are set to face serious competition in the coming years.
‘Bitcoin will be part of this competition. There will be many different monies, not only cryptocurrencies,’ Dalio said.
He is confident that NFT s will also play a role in this race. The billionaire also said he would like to buy a non-fungible token.
Dalio himself prefers gold as a store of wealth, because interactions with the precious metal are harder to track than Bitcoin’s movements on the blockchain.
In the billionaire’s view, the price of the first cryptocurrency will not reach $1 million, because then the asset’s market capitalization would be $20 trillion — twice that of gold.
Earlier, Dalio called fiat money ‘garbage’ and a problematic asset, and also disclosed investments in Ethereum and urged diversification of his portfolio.
Back in December, Dalio is an alternative to gold for the younger generation. He also noted that the blockchain revolution is inevitable, but some governments may ban it.
In May, Dalio spoke about buying Bitcoin, as the U.S. dollar is weakening, creating favorable conditions for investing in cryptocurrency.
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