June 6, 2023

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

Article reading time:
1 min.

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 would prefer gold,” said Ray Dalio 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".

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

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

“I don’t understand why people are more inclined towardsbitcoin than gold. Looking internationally, gold is the third largest reserve asset for central banks. First dollars, then euros, then gold and then the Japanese yen. And central banks are buying gold, not bonds,” says the billionaire.

Analysts at Standard Charteredrecently announced that the price of bitcoin could jump to $100,000 by the end of 2024. After the collapse of three American banks, including Silicon Valley, the attention of investors switched to the first cryptocurrency.

Former best-selling 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.