Ray Dalio, the living legend of the investment market, sees gold as the best hedge against inflation. It also has its own bitcoin resources.
Bitcoin, Gold and Ray Dalio
Hedge fund manager Ray Dalio says there is still a chance that bitcoin will go up. However, he emphasizes that he still believes in gold to a greater extent. In an interview with CNBC on August 4, an investor and a well-known billionaire admitted possession “Very small amount” bitcoins. He added that in terms of investment, however, he would always choose gold.
“If you put a gun to my head and say,” You can only have one, “I would go for gold – he explained.
However, he added that he sees bitcoin as digital gold and that it remains an important way to diversify your wealth.
– There are some assets you want to diversify your wallet and bitcoin is something like digital gold – he explained.
His hedge fund Bridgewater spent over $ 400 million on gold in the second quarter of last year. In 2019, he announced that adding gold to his portfolio could help balance it. Gold – according to the institution – reduces the risk of investment, but at the same time can increase profit. Dalio sees the ore as a natural hedge against inflation.
As a curiosity, central banks now have over 35,000 metric tons of gold, which is about a fifth of all precious metal mined.
Watch out for cryptocurrencies, they may be banned!
Dalio had previously warned cryptoinvestors against possible regulation of digital coin assets, or even their potential ban in the US, as was the case with gold in the 1930s. According to Dalio, there is “real chance “that bitcoin could eventually be banned by the federal government.
He himself remains cautious about bitcoin, but still wants it in his portfolio to diversify his investments.
– Overall, I don’t really know if bitcoin will go up or down – added. In his opinion, arguments can be found for both variants.
In May, however, he stated that he prefers to buy BTC over bonds.
As of this writing, gold is priced at $ 1,811 per ounce.