Billionaire Ray Dalio Criticizes Bitcoin at Davos Forum
One of most prominent figures in the traditional investment space and founder company Bridgewater Associates Ray Dalio at the World Economic Forum in Davos stated, what bitcoin everything yet unable to fulfill the function of money. When this he encourages people to consider alternatives to fiat currencies for preservation capital, since the authorities have possibility uncontrolled emission can ultimately lead to depreciation assets.
IN quality the main disadvantage of bitcoin, Dalio pointed to high volatility cryptocurrencies, influence which for more widespread need to be reduced in the future. Answering to the question about Tom, should whether investors consider possibility buying bitcoin along with gold, he noted: “Money has two purposes: a means of payment and means accumulation. Bitcoin is not is an effective in none of the categories. He’s too volatile. because of this volatility him impossible to consider seriously“.
At the same time, Dalio mentioned the stablecoin Libra, which can ensure the necessary stability.
Despite the fact that the world’s financial markets already have shown a significant rise to date, Dalio advises investors do not be afraid to join them, but warns of the need to “have a well-diversified portfolio“. Primarily is he recommends looking at gold and expects central banks to continue to accumulate “reserve currency, confirming your millennium status “.