According To Ray Dalio Cash is Garbage

American billionaire investor Ray Dalio warned investors, according to famous US billionaire investor Ray Dalio, cash is garbage.

Ray Dalio warned investors not to rely too much on cash and said that even though he has some Bitcoin, governments can destroy the cryptocurrency market. Dalio, founder of the $150 billion hedge fund Bridgewater Associates, told CNBC "First, know that cash is garbage, so don't stay with it," on Wednesday. According to the Bloomberg Billionaires Index, 72-year-old Dalio, who has a fortune of $ 15.6 billion, said that he invested some of his money in Bitcoin, but under that, it was a small percentage of his investment and therefore other assets. On the other hand, Dalio emphasized that while governments do not want cryptocurrencies to be successful, this does not mean that investors should not diversify their assets. While the leading cryptocurrency has gained more than 60 percent this year, it has come under the tight scrutiny of regulators and governments. Dalio said, "Ultimately, if (Bitcoin) is really successful, they're going to kill it. But that doesn't mean there isn't room for it." Dalio said, "It doesn't make sense to me," at the SALT conference in New York that same day. He expressed skepticism about Ark Investment Management's Cathie Wood's prediction earlier this week that Bitcoin will increase 10x over the next five years. Bridgewater's Pure Alpha II hedge fund is up 1.4 percent this year as of August. The firm manages $105 billion through hedge funds.