Ray Dalio: I have more gold than crypto

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Despite owning bitcoin and admitting the appeal of cryptocurrencies as an alternative gold, Ray Dalio took issue with Cathie Woods’ view that bitcoin BTCUSD, + 2.72%, will increase tenfold in five years.

That doesn’t make sense to me, the billionaire and founder of hedge fund Bridgewater Associates said at the SALT conference in New York on Wednesday. The tenfold increase could be grossly exaggerated, Dalio said.

There is a certain reversal of the stimulus for these kinds of things that raise prices, and there is a certain market share that gold could have, that bitcoin could have and other things could have, said. Dalio.

In another SALT conference panel, Ark Invests ARKK, + 0.80% Wood said on Monday that she expected the price of bitcoin to exceed $ 500,000.

Dalio also said he has more GC00 gold, -0.71% than crypto. I would say diversification is a good thing. We could discuss the merits of one over the other, he said.

Meanwhile, Dalio reiterated his view that the United States has bad finances, spending more than it earns. You can complete this by printing money and continue to create debt. But these are not healthy finances.

This means that you don’t want to commit any money. You don’t want a bond, its actual return will be negative. Dalio said. You want stocks, you want gold, you want tangible assets, you want real estate, you want things that are fundamentally anti-money, you want to get into those things that have more of these intrinsic values ​​that accompany them.

Asked about his personal plans, Dalio said he expects to shut up and do the things I love to do after a year or two.

My goal is no longer to be more successful myself but just to try to pass the course. And then I’ll do that for a year or two. And then I’m done, said Dalio.

See also: In the end, if bitcoin is successful, they’ll kill it, says founder of world’s largest hedge fund Dalio

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