Bridgewater Fund Dalio: I have Bitcoin, but it only accounts for 1% of the investment portfolio; BTC will never be a sovereign country’s reserve currency
Ray Dalio, founder of Bridgewater Associates, the world's largest hedge fund, said in an exclusive interview with CNBC's "Squawk Box" on November 20 that his Bitcoin holdings accounted for only 1% of his investment portfolio, and reiterated his long-term doubts about this asset.
(Preliminary summary: Dalio of Bridgewater Associates: The U.S. debt crisis is about to break out, and 15% of assets should be bought in "gold and Bitcoin")
(Background supplement: Dalio of Bridgewater Associates called "gold is indeed safer" in the decline of the U.S. dollar: I feel that the market is bubbled)
Ray Dalio, founder of Bridgewater Associates, the world's largest hedge fund, accepted on November 20 In an exclusive interview with CNBC’s “Squawk Box”, he stated that his Bitcoin holdings accounted for only 1% of his investment portfolio and reiterated his long-term doubts about this asset.
Dario said: "I hold a small portion of Bitcoin, about 1% of my investment portfolio, and it has been like this from a long time ago until now." He emphasized that this is only a small allocation to spread risks, and is not optimistic that Bitcoin can become a mainstream asset.
It is difficult for Bitcoin to become a major national reserve currency
Dalio bluntly stated that Bitcoin is unlikely to become a major national reserve currency. The main reasons include: transactions are completely traceable and lacks sufficient privacy; it may face the threat of quantum computing in the future, "theoretically it may be controlled and hacked"; Bitcoin still faces high technical and geopolitical risks.
Therefore, he believes that these structural problems make it difficult for Bitcoin to replace gold or the US dollar as the backbone of the global monetary system.
From "The government will kill it" to "It has proven itself"
However, it is worth mentioning that Dalio's attitude towards Bitcoin has actually undergone a significant change. In early 2021, he warned: "If it really succeeds, the government will kill it, and they have the means to kill it." But by the end of 2021 and into 2022, he softened his tone, admitting at one point: "Bitcoin has proven itself. It has not been hacked and has stood the test of time."
