MEXCWhy Billionaire Ray Dalio Is Still Betting Big On Bitcoin (BTC)?
Billionaire Ray Dalio, the CEO of $150 billion hedge fund, has recently made it known that he still has a bullish stance on Bitcoin. In a recent interview with CNBC, Dalio maintains that fiat is still very inferior.
Ray Dalio Still big on Bitcoin and bearish on fiat
Ray Dalio reiterated his positioned on Bitcoin while speaking to CNBC’s “I think that cryptocurrencies in particular, let’s call it a digital gold. I think a digital gold [would be a Bitcoin type of thing] has a little spot relative to gold.”
He added that the economical climate is changing in such a way that the question about what new money is, will arise. He proceeded to explain why fiat will not rise with the tide, explaining that its usage for goods and services will deplete with time.
His sentiments suggest, like many other cryptocurrency proponents have pointed out in the past, that the characteristics of fiat currencies are not sustainable for the future, in the manner that cryptocurrencies are.
Excerpt of the interview reads ;
“When I say cash is trash, what I mean is that all currencies, in relationship to the Euro and in relationship to the Yen, all of those like in the 1930s, will be currencies that will go down, in relationship to goods and services.”
He predicts that moving money within countries with ease, along with currencies being a significant store of value are requirements that any surviving currency will be required to possess.
Ray Dalio has always been bullish on Bitcoin
The billionaire’s convictions on Bitcoin have dated to as far back as May of 2021. The billionaire revealed that he owned some Bitcoin and later admitted that despite owning it, the cryptocurrency was too volatile.
Back in March of 2022, Coindesk reported that the billionaire was said to have reportedly been investing a minuscule amount in a cryptocurrency fund. The case of Ray Dalio is one similar to that of many, who were previously Bitcoin skeptics, but eventually turned a Bitcoin pioneer.
- Analyst Slams S&P’s ‘B-’ Rating for Strategy Inc, Says Bitcoin Treasury Model Is “Misunderstood”
- Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain
- $2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments
- Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates
- Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
- Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Prediction If President Trump Announces Deal with China on October 30th- Can BTC Break $125k?
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
