Crypto Getting Too Much Attention, Says Billionaire Investor Ray Dalio
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- The hedge fund manager stated that cash is a waste of time.
- No more than 2% of investors portfolios into Bitcoin, says Dalio.
American investor Ray Dalio, who founded Bridgewater Associates and is one of the world’s most renowned investors, believes that the cryptocurrency business is getting too much attention.
While speaking on “The David Rubenstein Show,” Dalio said he only had a “tiny” amount of cryptocurrency in investment portfolios. Remember that the billionaire investor announced earlier in May 2021 that he holds bitcoin in response to many inflationary fears and monetary policy positions adopted by the US government.
When it comes to protecting one’s wealth from the devastation of inflation, Dalio feels that Bitcoin is a superior alternative to government bonds. The hedge fund manager stated that cash is a waste of time since real interest rates turn negative while investors anticipate yearly returns of 4%.
Demonstrated Growth and Will Continue to Grow
Investors should put no more than 2% of their portfolios into Bitcoin, says Dalio in a recent interview. It’s important to note that Dalio hasn’t always advocated for Bitcoin. He was one of the most vocal detractors of the digital currency space, claiming it a colossal bubble.
Read More: Bitcoin Price Prediction
Although he recently changed his attitude and invested in the principal digital asset. As recently as December 2021, Dalio declared that Bitcoin has demonstrated its worth and will continue to grow.
“It has proven itself. It has not been hacked, it has operated in an amazing way over that 11 years to be probably the most exciting topic among a lot of people. It has been used and is now obtained the status of having imputed value.”
Bitcoin’s growth, however, might potentially lead to its collapse, according to the famed investor, since governments may attempt to destroy it.
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