American billionaire and investor Ray Dalio announced that he has invested in Ethereum. In a recent interview with Yahoo, Dalio admitted that he has investments in Bitcoin, the largest cryptocurrency, and Ethereum, the highest market capitalization altcoin.
Dalio recommends that investors diversify their portfolios with crypto to reduce the risk of inflation. The famous investor shed light on the growing popularity of the two biggest cryptocurrencies and the current state of the crypto economy:
“SI will not say the exact amount of Bitcoin I have, but I also have some Ethereum investments. But the answer to your question is that I don’t have many of them. I see alternative money as an opportunity in an environment where the value of cash is losing in real terms. I think it’s very impressive that for the last 10.11 years this programming has survived, hasn’t been hacked, and has had an adoption rate. I have a huge range of diversification, the crypto part is yet a small piece of the pie”
With rising inflation rates, Dalio recommends cryptocurrency as the best alternative to traditional money. The billionaire investor has become an outspoken supporter of digital assets in the past few months.
Besides, Ethereum price is trading at $3835. Market experts are optimistic that the altcoin will recover.
Cryptocurrency analyst @Koolaid_crypto believes Ethereum price could recover if it stays above critical support.
my $ETH setup from last week looks to be playing out. Not looking too good. #ETH still above critical support, but keep an eye on it.#ETHusdt #cryptofam pic.twitter.com/g1G5AwtCEq
— Crypto Koolaid (@Koolaid_crypto) December 20, 2021
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.