Why Ray Dalio Says Bitcoin Can’t Replace Gold

Ray Dalio, founder of Bridgewater Associates, believes Bitcoin cannot supplant gold as the primary global store of value. He emphasizes gold’s millennia-long history as money and its continued importance within the global financial system, particularly its role in central bank reserves which provides institutional legitimacy. Dalio views Bitcoin as behaving more like a risk asset, correlated with technology stocks, rather than a traditional safe haven. He highlights the significantly larger and more mature gold market, supported by diverse institutional and industrial demand, as another key advantage. Concerns about Bitcoin’s transparency, potential vulnerabilities to quantum computing, and lack of central bank adoption further solidify Dalio’s position. However, he acknowledges Bitcoin’s potential as a complementary asset in a diversified portfolio, suggesting a combined allocation of gold and Bitcoin.

(Source：Cointelegraph)