• Ray Dalio, the founder of Bridgewater Associates, is not a fan of bitcoin and does not understand why people prefer it to gold.
• He claims that cryptocurrency is too volatile to be taken seriously, and he has seen people get rich and go broke with it.
• Despite its volatility, bitcoin has had some strong bull runs in the past which could be an indication of a promising future.
Ray Dalio’s Dislike for Bitcoin
Ray Dalio, billionaire and founder of Bridgewater Associates, has never been a big fan of bitcoin. In his latest interview, he touted gold instead and expressed confusion as to why people are more inclined to go with bitcoin rather than gold.
Bitcoin Is Too Volatile
Dalio went on to say that cryptocurrency or bitcoin doesn’t move in a reliable way related to almost anything; it just moves up and down based on certain events. He also said that gold is an established alternative to fiat money while crypto can easily be tracked by owners and transactions without government involvement.
People Have Gotten Rich & Broke With Crypto
The billionaire investor continued his anti-bitcoin rant by saying that he’s seen people both get very rich and go very broke with the asset class. He believes that its results are unpredictable which makes him hesitant about trusting in its growth factors for the future.
Price History Of Bitcoin
Despite this view, Bitcoin has had solid bull runs in the past which indicate potential for further growth down the road. The price of BTC has been inconsistent over the last 18 months or so but this hasn’t stopped traders from investing in it due to its potential for huge profits if things turn out right.
Conclusion
In conclusion, Ray Dalio remains skeptical about Bitcoin despite its many successes in recent years due to its volatile nature which makes it difficult to predict how it will perform over time. Despite this skepticism though, the asset still continues to grow as more traders invest in it looking for big returns if their bets pay off correctly