by Helen Partz, Coin Telegraph:
Bridgewater Associates founder Ray Dalio referred to Bitcoin as a hard asset, saying he would choose BTC and gold over debt assets.
Billionaire investor Ray Dalio expressed concerns about a potential “pending debt money problem” in global finance and urged a shift toward hard assets like Bitcoin and gold.
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Dalio, the founder of one the world’s largest hedge funds, Bridgewater Associates, said he would invest in “hard money” like gold and Bitcoin BTC
$97,604 while avoiding debt assets, the South China Morning Post reported on Dec. 10.
The veteran investor referred to “unprecedented levels” of indebtedness seen in all major countries, including the United States and China, stressing that its current levels will not be sustainable.
“It is impossible for these countries to be able to not have a debt crisis in the years ahead that will lead to a great decline of money value,” Dalio said in a speech at a financial conference in Abu Dhabi.
“Steer away from debt assets like bonds and debt”
“I believe that there would likely be a pending debt money problem,” Dalio said, referring to debt as one of five big forces driving the global economy alongside money, economy, internal political order and external geopolitical order.
“Don’t get too caught up on the twists and turns of the day-to-day headlines, and instead, think more about the big forces,” he said, adding:
“I want to steer away from debt assets like bonds and debt and have some hard money like gold and Bitcoin.”
Dalio previously believed cryptocurrencies like Bitcoin would not succeed in the way people hoped they would, but he has emerged as a major BTC supporter in recent years.
In 2022, Dalio said it’s reasonable to allocate up to 2% of an investment portfolio in Bitcoin in addition to gold to hedge against inflation. Previously, the billionaire investor said he would still choose gold over Bitcoin, highlighting the importance of diversification.
