Zinger Key Points
- Dalio declined to increase his Bitcoin holdings to 10% of his portfolio, citing broader monetary system concerns.
- His comments reflect skepticism about Bitcoin’s role as an alternative asset despite its growing popularity among investors.
- Get Pro-Level Earnings Insights Before the Market Moves
Billionaire investor Ray Dalio has disclosed that he owns “a little” Bitcoin BTC/USD, although he did not disclose the specific amount.
What Happened: In an interview with CNBC in Davos on Wednesday, Dalio stated his Bitcoin holdings are “little, like 1% kind of?” of his portfolio and that in general investors need to think about their alternative forms of money.
The investor highlighted that gold can be a key element to any portfolio due to its inverse relationship with market movements.
When asked whether he would increase his Bitcoin holdings to 10 percent of his portfolio at Bitcoin's current price of $104,000, Dalio firmly responded, "No, no."
His caution apparently stems from concerns about the broader monetary system and the value of debt and money, which he urged investors to evaluate critically.
Also Read: 3 Reasons Why Bitcoin Could Hit $122,000 Soon: 10x Research
Why It Matters: Despite his recent admission of ownership, Dalio does not see Bitcoin becoming a central bank reserve or being adopted by most governments.
He emphasized that Bitcoin “is not going to be bought by alternative governments right now” noting that it is “easy to control and follow”.
Dalio also touched on the importance of understanding the value of debt and money when debt is money in a market, noting the constant temptation of interest rates and the need to consider supply and demand issues.
Despite these concerns, Dalio acknowledged Bitcoin’s potential as an investment by saying "I think an investor, if you look, you will reduce the risk of your portfolio," when talking about alternative currencies like Bitcoin and Gold.
While he acknowledges its existence as a potentially beneficial alternative investment, he remains cautious about its potential as a widespread replacement for traditional currencies, particularly within the current market.
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