While the bleeding in the US stock markets continues, bitcoin again fell below $29,000. Although Bitcoin has managed to hold on in a good region compared to the losses in the global markets, concerns about the future are increasing day by day.
Although Bitcoin’s correlation with stock markets is criticized on a platform where high inflation is discussed, experts consider this to be natural since it is a new asset class.
Finally, billionaire Ray Dalio, founder of Bridgewater Associates bitcoin talked about.
The famous billionaire, who was a guest of the Squawk Box program on CNBC today, said that he continues to hold a small amount of Bitcoin in his portfolio and that Bitcoin has achieved significant success in the last 11 years.
“I think Bitcoin has had tremendous success over the last 11 years. A small percentage of my portfolio is still in Bitcoin. “
Stating that Bitcoin has made some gains that it can replace fiat currencies, Dalio stated that its position as a store of value is much more at the forefront.
Dalio explained in his previous interviews that he invested 2% of his portfolio in Bitcoin.
Thinking that it is wrong to stay in cash and invest in stocks amid high inflation and recession concerns, Dalio stated that investors should turn to assets with real returns.
“Cash and stocks are garbage. Investments with real returns are the best investments.”