Published: April 26, 2023 at 2:05 p.m. ET
Ray Dalio, billionaire and founder of Bridgewater Associates, holds a “little bit” of bitcoin BTCUSD, but “doesn’t understand why people are more inclined to go to bitcoin than gold,” he said in a new podcast interview with YouTuber Chris Williamson. MarketWatch has reported in the past that Dalio holds bitcoin.
“Cryptocurrency or Bitcoin doesn’t move in a reliable way related to almost anything,” said Dalio in the episode uploaded on Tuesday. “It, you know, moves up and down because of this move and that move….and unlike…
Ray Dalio, billionaire and founder of Bridgewater Associates, holds a “little bit” of bitcoin
BTCUSD
,
but “doesn’t understand why people are more inclined to go to bitcoin than gold,” he said in a new podcast interview with YouTuber Chris Williamson. MarketWatch has reported in the past that Dalio holds bitcoin.
“Cryptocurrency or Bitcoin doesn’t move in a reliable way related to almost anything,” said Dalio in the episode uploaded on Tuesday. “It, you know, moves up and down because of this move and that move….and unlike gold let’s say.”
In the past he has said bitcoin is like gold, but that “gold is well established blue-chip alternative to fiat money” and his views haven’t changed much despite recent rallies in the token.
“Crypto, it’s very easy to track the owners and transactions. It’s not, like, by the government…It doesn’t move in a way that’s consistent with kind of any of the environments,” said Dalio. “It’s a small asset class. We talk a lot more about it, but its size is about, you know, 30% of the size of Microsoft
MSFT
,
and Microsoft is one stock among many stocks.”
On Wednesday, bitcoin rallied more than 8.6% to its highest level in a week, topping $30,000, according to CoinDesk data. It is still far from its peak of over $65,000 in November 2021 though.
“I’ve seen people get very rich, and I’ve seen people get very broke with it,” said Dalio.
