Bridgewater Associates Founder Ray Dalio Says He Prefers “Hard Money” Like Bitcoin And Gold As Global Indebtedness Rises
Release: 2024/12/12 02:04 Reading: 251
Billionaire Bridgewater Associates founder Ray Dalio expresses his preference for "hard money" assets such as Bitcoin and gold, emphasizing the increasing debt levels in major economies.
In his speech during the Abu Dhabi Finance Week, Dalio stated, "I want to steer away from debt assets like bonds and debt and have some hard money like gold and Bitcoin."
Dalio's Concerns About Rising Indebtedness
The billionaire investor highlighted that debt levels in all major economies, excluding Germany, are rising at "unprecedented levels." He expressed his belief that it is inevitable for these countries to face a debt crisis in the future, leading to "a great decline" in money's value.
US National Debt Statistics
According to the US Debt Clock, the country's total national debt exceeds $36.12 trillion, translating to approximately $107,013 per citizen and $271,790 per US tax payer.
Dalio's Shift in Stance on Crypto
Dalio's advocacy for gold and Bitcoin reflects a change in his stance towards digital assets. In 2021, he had expressed doubts about the viability of Bitcoin and cryptocurrencies. However, in 2022, he acknowledged the merits of allocating a small portion of investment portfolios (around 2%) to BTC as a hedge against inflation, alongside gold.
Despite his shift in perspective, Dalio still favors gold over Bitcoin, citing crypto's relatively smaller asset class size.
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