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Home » Crypto News » Billionaire Ray Dalio Likes Bitcoin But Would Choose Gold

Billionaire Ray Dalio Likes Bitcoin But Would Choose Gold

Author: Dimitar Dzhondzhorov

Last Updated Aug 5, 2021 @ 10:36

According to Ray Dalio, Bitcoin is a good investment tool to diversify one’s portfolio, but gold is a better option as a store of value.

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The American investor Ray Dalio said that Bitcoin is equivalent to digital gold. Still, he opined that the precious metal has a long history as a “store hold of wealth,” making it superior to the primary cryptocurrency.

‘I’m Not a Big Owner’

During an interview for CNBC, the billionaire Ray Dalio gave his two cents about Bitcoin and its correlation to gold. While the American hedge fund manager agreed that the two assets are quite similar, he definitely gave his preference to the yellow metal:

“If you put a gun to my head, and you said, ‘I can only have one,’ I would choose gold.”

According to him, the precious metal is the historical store of value that has proved its resilience throughout the years. Bitcoin, on the other side, can be highly volatile, and thus it falls behind.

Back in May, Dalio revealed that he owns BTC. The billionaire even stated that “Bitcoin’s greatest risk is its success.” Nonetheless, during his CNBC interview, he said that his cryptocurrency holdings are small, specifying that he entered the digital asset market because it is one way to diversify his portfolio:

“I own a very small amount of bitcoin. I’m not a big owner. There are certain assets that you want to own to diversify your portfolio, and bitcoin is something like a digital gold.”

Raymond Dalio
Ray Dalio. Source: CNBC

Other Prominent Investors Think Differently

While Ray Dalio believes that gold is a better asset than bitcoin, numerous other notable names opined rather differently in the recent past.

For example, last month, Steve Wozniak – one of Apple’s inventors – said that the primary digital asset is superior to the precious metal. He argued that gold could present challenges due to its physical form, while BTC is much more accessible. He went even further, describing the cryptocurrency as a mathematical phenomenon:

“Gold is limited and you have to look for it. Bitcoin is the most amazing mathematical miracle.”

Another keen supporter of bitcoin over gold is MicroStrategy’s CEO – Michael Saylor. He highlighted the digital asset’s merits not only over the yellow metal but over all other investment instruments. To him, the primary cryptocurrency is 50 times better than gold urging investors to allocate their wealth into the digital asset:

“I’m surprised they are not increasing their allocation by a factor of 10 because bitcoin is 50 times better.”

Featured Image Courtesy of BusinessInsider

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Tags: Bitcoin Gold
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About The Author

Dimitar Dzhondzhorov
More posts by this author

Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.

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