Legendary Billionaire Ray Dalio Offers His Perspective on Bitcoin Relative to Gold

Prominently stamping the bitcoin logo on what is assumed to be a gold coin cleverly cements in investors’ minds an immediate association with the benefits offered by investing in gold. In a recently published Forbes article, author Billy Bambrough points out that legendary billionaire Ray Dalio questions Bitcoin’s ability to act as a store of value.

Bambrough notes Dalio recently “advised investors to diversify their portfolios with assets that are limited supply, that are mobile, and that are store-holds of wealth” and, “as recently as January of this year, Dalio was still unconvinced of Bitcoin’s ability to act as a store of value.” Dalio’s posting to Twitter provides his reasoning as to why, at least for now, he is sticking with gold.

Bambrough quotes Dalio as stating: As [for] Bitcoin relative to gold, I have a strong preference for holding those things which central banks are going to want to hold and exchange value in when they are trying to transact” and, There’s two purposes of money, a medium of exchange and a store-hold of wealth, and bitcoin is not effective in either of those cases now.

Dalio’s net worth is estimated to be $17 Billion. His perspective is probably worth some strong consideration.

Bambrough, B. (2020 December 12) “Another Billionaire Wall Street Legend Has Changed His Tune On Bitcoin”. Retrieved from: https://www.forbes.com/sites/billybambrough/2020/12/12/another-billionaire-wall-street–legend-has-changed-his-tune-on-bitcoin/?sh=6b9f88beb436