Billionaire Ray Dalio ‘impressed’ how Bitcoin survived the past decade

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Billionaire Ray Dalio expressed another positive sentiment, saying he was impressed with crypto while also ranking cash as “the worst investment.”

In an interview with Yahoo! Finance, on December 17, the founder of Bridgewater Associates said he thought it was “impressive” that the crypto had lasted without being hacked over the past decade.

“I think it’s impressive that over the past 10 to 11 years this lineup has held up. It hasn’t been hacked and it has an adoption rate, ”said Dalio.

He also mentioned that he owned Bitcoin (BTC) and Ether (ETH), but when asked how much he had, Dalio responded by saying that he didn’t have a lot of it: “I am very committed to diversification, and that’s a very small part of the portfolio. “

In 2020, Ray Dalio’s criticisms of volatility and the lack of buyer protection for crypto raised alarm bells for many holders. He mentioned that Bitcoin is “not very good as a store of wealth.” However, in early 2021, the billionaire made a 180 on Bitcoin, calling the asset “one hell of a invention.”

In an essay that Dalio published in January 2021, he clarified that supporters and antagonists of crypto look at the same thing from different angles. He said he understands that Bitcoin has its pros and cons.

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The billionaire fund manager then stressed that he viewed crypto “as an alternative currency in an environment where the value of cash is depreciating in real terms.” He added that he still thinks “money is a dumpster” as he said in previous interviews.

“Cash, which most investors consider the safest investment, is, I think, the worst investment. “

The billionaire’s responses show more positivity over his previous statements that the United States could ban Bitcoin and that he would choose gold over bitcoin in August, which was dubbed by the FUD community.

On March 25, Dalio said it was likely that Bitcoin would be banned in the same way that gold was banned under certain circumstances. He cited the gold ban in the 1930s as an example, saying it could happen to Bitcoin as well. At that time, the government didn’t want gold to compete with fiat because things could get “out of hand,” Dalio said.

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