Ray Dalio says he would pick gold over Bitcoin. Here's why
"I own a very small amount of bitcoin. I'm not a big owner," Ray Dalio told CNBC.
August 05, 2021 / 11:37 AM IST
File photo of Ray Dalio, founder of Bridgewater Associates.
Billionaire investor Ray Dalio said that while he thinks of Bitcoin as "digital gold", he prefers one over the other.
Dalio, the founder of Bridgewater Associates, told CNBC that he owns a small amount of bitcoin.
"If you put a gun to my head, and you said, 'I can only have one,'" Dalio. "I would choose gold."
"I own a very small amount of bitcoin. I'm not a big owner," Dalio told CNBC.
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"There are certain assets that you want to own to diversify the portfolio, and bitcoin is something like a digital gold," he said.
He told the news channel that he would pick gold due to its long history as a "store hold of wealth".
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Dalio had in May revealed that he holds some bitcoin. He told CoinDesk that he'd rather have bitcoins than a bond in an inflationary scenario.
Bitcoin, the world's largest cryptocurrency by market capitalisation, is known to be a highly volatile asset. Since the high of over $63,300 in mid-April, the price of bitcoin has fallen to just under $40,000.