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Hedge Fund Titan Ray Dalio Makes Easy Decision Between Gold and Bitcoin

Hedge Fund Titan Ray Dalio Makes Easy Decision Between Gold and Bitcoin


Ray Dalio, the founder of the biggest hedge fund in the world, says that if forced to choose between gold and Bitcoin, he wouldn’t be torn on the decision.

 

Speaking to CNBC, the former Bridgewater Associates chief says that if he had to pick only one, he would choose gold.

“If you put a gun to my head, and you said, ‘I can only have one,’ I would choose gold.”

The co-chairman and co-chief investment officer of Bridgewater Associates adds that he owns only a “small amount of Bitcoin.”

“I own a very small amount of Bitcoin. I’m not a big owner. There are certain assets that you want to own to diversify the portfolio, and Bitcoin is something like a digital gold.”

In May, Dalio said he preferred Bitcoin over bonds while warning that the flagship cryptocurrency’s success could turn into its undoing.

“The more we create savings in it, the more you might say, ‘I’d rather have Bitcoin than the bond.’ Personally, I’d rather have Bitcoin than a bond. The more that happens, then it goes into Bitcoin, and it doesn’t go into credit, then they lose control of that, and you know that’s a risk.”

Dalio’s choice of gold over Bitcoin comes as the former is down over 4% this month while the latter is up nearly 10% in the same timeframe. According to crypto market intelligence platform Santiment, Bitcoin and gold are currently showing a potential inverse correlation.

“Bitcoin and gold investors saw very opposite price performances to close out the trading week. BTC surged to above $43,000, as gold has swung downward, seeing its biggest decline since mid-June. The two are very much behaving inversely to one another.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/kentoh





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