According to the founder of Bridgewater Associates, the main cryptocurrency looks like a more attractive store of value than gold in the current environment.
The founder of hedge fund Bridgewater Associates, Ray Dalio, told Coindesk that he owns bitcoins. According to him, in the current environment, the main cryptocurrency looks like a more attractive store of value than gold.
Dalio argues that the US dollar is on the verge of devaluing to levels last seen in 1971, and China is threatening the dollar’s role as the world’s reserve currency.
“Personally, I would rather bitcoin over a bond. I have bitcoins, ”said Dalio.
At the end of February, Bridgewater Associates said they were ready to invest in Bitcoin if its volatility decreases and liquidity increases.
In January of this year, Bridgewater Associates founder Ray Dalio changed his attitude towards cryptocurrency. He wrote about this in the company’s daily newsletter, which is sent to the fund’s clients.
Dalio noted that in the future, bitcoin could become an asset “like gold” and announced its readiness to invest in the main digital coin an amount that he would not mind losing.
Bridgewater Associates is the world’s largest hedge fund serving institutional clients including retirement funds, non-profit organizations, foundations, governments and central banks around the world.