Investor and billionaire Ray Dalio podcast Chris Williamson said that he owns bitcoin, but prefers gold.
“I don’t understand why people are leaning more towards bitcoin than gold. Internationally, gold is the third largest reserve asset for central banks. First dollars, then euros, gold and the Japanese yen,” he said.
According to Dalio, the precious metal is “timeless and versatile.” At the same time, bitcoin requires close attention from investors due to its volatility, he added.
“You have to be prepared for it to drop significantly, by 80% or so,” the investor warned.
Earlier, Dalio questioned the ability of bitcoin to replace fiat currencies. In May 2022, the billionaire said that the first cryptocurrency is a good insurance against inflation, but not a full-fledged alternative to gold.
Recall that in April 2023, the author of the bestseller “Rich Dad Poor Dad” and entrepreneur Robert Kiyosaki predicted the growth of bitcoin to $100,000.
According to Galaxy Digital CEO Mike Novogratz, the price of the first cryptocurrency will reach $40,000 when the US Federal Reserve starts cutting the key rate.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Investor and billionaire Ray Dalio podcast Chris Williamson said that he owns bitcoin, but prefers gold.
“I don’t understand why people are leaning more towards bitcoin than gold. Internationally, gold is the third largest reserve asset for central banks. First dollars, then euros, gold and the Japanese yen,” he said.
According to Dalio, the precious metal is “timeless and versatile.” At the same time, bitcoin requires close attention from investors due to its volatility, he added.
“You have to be prepared for it to drop significantly, by 80% or so,” the investor warned.
Earlier, Dalio questioned the ability of bitcoin to replace fiat currencies. In May 2022, the billionaire said that the first cryptocurrency is a good insurance against inflation, but not a full-fledged alternative to gold.
Recall that in April 2023, the author of the bestseller “Rich Dad Poor Dad” and entrepreneur Robert Kiyosaki predicted the growth of bitcoin to $100,000.
According to Galaxy Digital CEO Mike Novogratz, the price of the first cryptocurrency will reach $40,000 when the US Federal Reserve starts cutting the key rate.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!