Dalio assured that bitcoin has been established in recent years. The investor valued the scarcity of bitcoin and its quality as a “store of wealth”
Billionaire investor Ray Dalio, recognized for his stance against bitcoin over the years, now regards cryptocurrency as an “interesting alternative” to gold. Ray Dalio made this statement during an AMA session (Ask Me Anything or Ask Me Anything) this week.
“I think bitcoin (and some other digital currencies) have established themselves in the last decade as interesting alternatives to assets similar to gold,” said Dalio through the social network Reddit.
After being asked about the ability of bitcoin to solve problems created by fiat money and the monetary policies of central banks, the investment fund manager assured that bitcoin possesses the potential to serve as a “diverse alternative of gold and other assets.”
Beyond comparison, Dalio keeps high his vision in favor of gold. In this regard, he said he had “a strong preference for keeping those valuable things that central banks will want to retain and change in value when they try conducting transactions.”
Also, the owner of the hedge fund Bridgewater Associates positively appreciated the qualities of bitcoin (BTC) such as its limited supply, its mobility, and the fact that it is a “store of wealth.”
These statements by Dalio came shortly after he doubted his stance against bitcoin just a few weeks ago. As the price of BTC climbed to a steady pace, the investor wondered if he was missing something about it and even asked for correction in case he was wrong about the value of bitcoin, as the report said.
Previously, the American billionaire assured that gold was a better choice when it comes to using it as a safeguard of value compared to bitcoin. On the other hand, he (Dalio) recognized the potential of the cryptocurrency by ensuring that governments would have it in their sights to ban it “if it materializes.”
Bitcoin gains ground among Investors and Institutions
As Dalio does now, in recent times many personalities in the financial world spoke in glowing terms about bitcoin and its capacity as a store of value.
Rick Rieder, Director of Investments at the asset management firm BlackRock, recently said that bitcoin would end up gaining the ground that gold currently has in the world of investments during an interview reviewed in this medium.
Then, the firm’s CEO, Larry Fink, considered that the pioneering cryptocurrency is about to become a serious rival to the dollar in the battle for the world’s reserve currency. This appreciation coincides with that of other personalities, such as the writer of the bestseller Rich Dad, Poor Dad, Robert Kiyosaki.
Along with these positions, an increasing number of institutional actors see an investment opportunity in bitcoin. This same year, institutional investment has exploded with companies accumulating thousands of bitcoin in their coffers when considering it an adequate value reserve mechanism.
By Jenson Nuñez
