Bridgewater Associates founder Ray Dalio revealed exposure to Bitcoin, criticizing the debasement of fiat money and the «stupid» economics behind bond investing.
«Personally, I’d rather have bitcoin than a bond [in an inflationary scenario],» said Bridgewater’s Ray Dalio in a recorded interview during a recent conference hosted by New York-based crypto news site «Coindesk».
«I have some Bitcoin,» he added, though he did not reveal the amount.
Bond Investing: «Stupid»
Although a sizeable portion of Bridgewater’s assets are invested in U.S. Treasuries and other government bonds, Dalio said the economics behind investing in the asset class has become «stupid» as they pay less than inflation.
Earlier this year, Dalio also said he was considering crypto investments for new funds to protect clients against the debasement of fiat money.
Bitcoin’s Greatest Risk
Dalio’s public support for Bitcoin marks a rare voice in the recent chorus of skeptics in the financial sector that range from banks like HSBC and Goldman Sachs to Chinese regulators.
And he notes that Bitcoin’s continued development and advancement could pose as its Achilles' heel.
«Bitcoin’s greatest risk is its success,» Dalio cautioned.
