Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund, which gave up its anti-Bitcoin and anti-crypto rhetoric in the face of Bitcoin’s performance, spoke about cryptocurrencies and investments in a recent Yahoo Finance interview.
The American billionaire, who shared his crypto investment strategy in his interview, warned investors that money is “the worst investment” due to rising inflation.
“Cash is what most people consider the safest investment. However, I see cryptocurrencies as an alternative opportunity in an environment where the value of cash is losing in real terms. I think it’s very impressive that cryptocurrencies have survived, not hacked, and have an adoption rate for the last 10.11 years.”
Defending the need for portfolio diversification, Dalio stated that he realized that the crypto money industry is permanent and that cryptocurrencies are an ideal option for diversification.
The successful investor admitted that besides Bitcoin, Ethereum is among his crypto money investments. However, Ray Dalio, who did not reveal how much crypto money he had in his wallet, said:
I’m not going to say the amount of Bitcoin and Ethereum I’ve invested in, because I have a huge range of diversification, the cryptocurrency part is still a small piece of the pie.”
While Ray Dalio’s outlook towards Bitcoin and cryptocurrencies has changed, he did not neglect to warn that Bitcoin could become a risk to governments and that Bitcoin would be banned in more and more countries.
*Not investment advice.