Billionaire Ray Dalio in comments Yahoo Finance called traditional currencies a problem asset.
“Most investors consider fiat money to be the safest investment. I think this is the worst investment, ”he said.
According to Dalio, you shouldn’t judge the profitability of your assets in nominal terms. He called for an adjustment for US dollar inflation, which caused investors to lose 4-5% in 2021.
“For real diversification, distribute your investment portfolio not only by asset class, but also by country,” said the billionaire.
Dalio also disclosed investments in Ethereum, but did not name the exact amount – “not very much.” He said he holds part of the portfolio in cryptocurrencies for the purpose of diversification.
“I see them as alternative money in the face of real devaluation of fiat money. It is impressive that programmable currencies lasted 10-11 years – they were not hacked, they have a level of acceptance, ”Dalio explained.
Earlier, the billionaire said that Bitcoin is an alternative to gold for the younger generation. [5 — fiction] He also noted that the blockchain revolution is inevitable, but some governments may outlaw it.
Recall that in May, Dalio talked about buying bitcoin, as the US dollar depreciates, creating attractive conditions for investing in cryptocurrency.