Ray Dalio Evaluated Bitcoin

Famous billionaire Ray Dalio said that Bitcoin (BTC) is not a good competitor to gold.

Famous billionaire Ray Dalio evaluated Bitcoin. Speaking to the Economic Times, Dalio made statements about the leading cryptocurrency Bitcoin. Acknowledging the potential of Bitcoin and other digital assets, Dalio stated that Bitcoin is a hedge against inflation, just like gold, due to its limited supply. Successful businessman argued that Bitcoin will not be adopted as a reserve asset by central banks due to privacy and bans in some countries. Dalio said, “There are still problems with Bitcoin. Transactions can be tracked and therefore there is a privacy issue. They can be controlled, they can be closed, they can become illegal due to alternative currencies. So I don't think they will be kept as central bank reserves for various reasons." Stating that he believes investors should include digital assets such as Bitcoin in their portfolios, Dlaio added that gold makes a better interior against inflation. The billionaire also argued that Bitcoin's overall market cap is lower than Microsoft's, making it a less desirable asset compared to gold. Despite this view, Dalio said that he is optimistic about the growth of the crypto industry in the next 10 years: “I think gold does a better job. However, as I said, we are in a new environment and this may include NFT and other assets. Assets like BTC and NFTs are rivals to gold, but they are not as good as gold. Bitcoin will evolve over the next 5 to 10 years.”