June 18, 2024

Ray Dalio: I keep some bitcoin, but I prefer gold

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Ray Dalio: I keep some bitcoin, but I prefer gold

The world-famous billionaire said that he has a small amount of bitcoins, but since the cryptocurrency is still unreliable, he prefers gold.

“I'd rather have gold,” Ray Dalio said on Chris Williamson's YouTube podcast.

The investor added that he is not a big fan of Bitcoin, but admitted that he "has a little bit."

“Like I said, you should be prepared for BTC to drop a lot. It could fall 80% or so,” Dalio suggests. 

Bitcoin's market capitalization is about $574 billion, and the price of one BTC now exceeds $29,000.

"I don't understand why people are more inclinedto Bitcoin than to gold. If you look at the international level: gold is the third largest reserve asset for central banks. First dollars, then euros, then gold and Japanese yen. And central banks are buying gold, not bonds,” says the billionaire.

Analysts at the financial company StandardChartered recently said that Bitcoin's price could jump to $100,000 by the end of 2024. After the collapse of three American banks, including Silicon Valley, investors' attention turned to the first cryptocurrency.

Previously bestselling author of Rich Dad Poor Daddad" Robert Kiyosaki explained why he loves Bitcoin so much and why he believes that the world's first cryptocurrency will soon cost $100,000.