Ray Dalio Warns Against Bitcoin as a Safe Haven

Billionaire investor Ray Dalio expressed skepticism about Bitcoin's viability as a long-term store of value and safe-haven asset, asserting that "there is only one gold." He argued that gold is the most established money, second only to the US dollar as a reserve currency held by central banks, and questioned why central banks would adopt Bitcoin. Dalio also cited concerns over Bitcoin's lack of privacy, as every transaction is monitorable, and the potential threat posed by quantum computing. He noted Bitcoin's high correlation with tech stocks, which impacts its supply and demand dynamics during market squeezes. This stance contrasts with a previous recommendation where he suggested a 15% allocation to either Bitcoin or gold for optimal risk-adjusted returns amid rising US debt and currency debasement. Dalio maintains his long-held view that physical gold is the superior asset for wealth preservation when currencies and credit systems falter.

(Source：Cointelegraph)