"Bitcoin is not a good competitor to gold. Ray Dalio:

“Bitcoin is not a good competitor to gold. Ray Dalio:

In an interview with the Economic Times, Ray Dalio said that Bitcoin does resemble gold in that it has a clearly limited maximum reserve. However, it is unlikely that the central banks of various countries will actually use Bitcoin as a reserve asset:

“There are problems with bitcoin. For example, all transactions can be tracked, there is no privacy. They can be monitored, they can be canceled, Bitcoin can be used for illegal purposes, and this all prevents it from becoming an alternative currency. So, for various reasons, I don’t think Bitcoin will be used as a central bank reserve”.

The investor did not say exactly how transactions on the Bitcoin network could be controlled and cancelled. But he said that gold is the best alternative to hedge inflation. After all, the total capitalization of the first Cryptocurrency is still less than the capitalization of Microsoft. And gold has a higher indicator by several tens of times.

“I think gold is still better, but we are now in a new environment. NFTs, new projects are emerging. As I said, Bitcoin can be called a rival, but it is worse than gold… However, we will see in the future. I think the industry will develop in the next 5-10 years”

says the founder of Brdigewater Associates

At the same time, Dalio is still optimistic about the Cryptocurrency industry and expects industry growth. He urged investors to diversify their portfolios and never keep “all their eggs in one basket”. And as a diversification tool, in his opinion, cryptocurrencies fit quite well.

At the beginning of February, Ray Dalio said that Cryptocurrencies are getting too much attention right now and that this is bad for the industry.

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Written by Renat
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