Ray Dalio: Bitcoin is not a good competitor against gold

05/07 02:56

In a recent interview with the Economic Times, billionaire investor and founder of Bridgewater Associates, Ray Dalio, acknowledged the potential of digital assets, especially Bitcoin, emphasizing their impressive performance over the past decade. 72-year-old American investor also noted that Bitcoin’s finite supply makes it similar to other universally accepted inflation hedges such as gold. However, he doesn’t see central banks adopting Bitcoin as a reserve asset due to several issues such as privacy and ban in some countries. “Still, there are issues with them. Transactions can be traced so privacy is an issue. They can be controlled, they can be shut down, they can be made illegal which tends to tap in during times when they may be threats to the alternative currency. So, I don’t think they’ll be held as central bank reserves for various reasons,” he said.

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