May 7, 2022

Digital Currency But No Gold: Billionaire Ray Dalio

The world’s biggest hedge fund firm, Bridgewater Associates, Founder Ray Dalio, said that it’s a "mistake" to just own a digital currency and not have any gold or vice versa.

Gold is a non fiat currency and bitcoin mining consumes more energy than mining gold.

Dalio believes that cryptocurrencies are amazing, but they’re not a good competitor against gold.

He added that crypto still has issues like privacy and faces the risk of getting banned.

Ray stated that none of the nations wants to witness the surge in crypto currency much, and printing money will have a correction.

We are in a situation where a nation will decide which kinds of currencies are acceptable in a crisis.

Which currency do you prefer?