Dalio Keeps Bitcoin Allocation at 1%, Prefers Gold
Legendary investor Ray Dalio remains cautious about Bitcoin, holding only 1% of his portfolio in the cryptocurrency. Speaking on a recent episode of the Diary of a CEO podcast, Dalio explained that while he sees Bitcoin as one type of money, he prefers gold due to concerns over volatility and potential threats from quantum computing.
Dalio's stance highlights the limited institutional adoption of cryptocurrencies despite interest from major Wall Street players like BlackRock. The billionaire investor has been critical of Bitcoin in the past, citing its volatility and lack of privacy as drawbacks.
He noted that governments could potentially crack down on Bitcoin, limiting its use and value. Dalio's preference for gold is not surprising given his previous statements, but his admission that he holds some Bitcoin in his portfolio marks a shift from his earlier stance of avoiding the cryptocurrency altogether.