Ray Dalio: I have bitcoin, but gold is better

The world famous billionaire said that he has a small amount of bitcoins, but since the cryptocurrency is still unreliable, he prefers gold.

“I would prefer gold,” said Ray Dalio on Chris Williamson’s YouTube podcast.

The investor added that he is not a big fan of bitcoin, but admitted that he “has a little”.

“Like I said, you have to be prepared for BTC to drop a lot. It could drop by 80% or so,” Dalio suggests.

The market capitalization of Bitcoin is about $574 billion, and the price of one BTC now exceeds $29,000.

“I don’t understand why people are more inclined towards bitcoin than gold. Looking internationally, gold is the third largest reserve asset for central banks. First dollars, then euros, then gold and then the Japanese yen. And central banks are buying gold, not bonds,” says the billionaire.

Analysts at financial firm Standard Chartered recently said that the value of bitcoin could jump to $100,000 by the end of 2024. After the collapse of three American banks, including Silicon Valley, the attention of investors switched to the first cryptocurrency.

Earlier, bestselling author of Rich Dad Poor Dad, Robert Kiyosaki, explained why he loves bitcoin so much and why he thinks the world’s first cryptocurrency will soon be worth $100,000.

Source: CryptoNewsHerald.com

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