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- The head of BridgeWater Associates, Ray Dalio appeared on Lex Fridman’s podcast sharing his interesting insights on Money & Bitcoin
- Dalio stated that he sees Bitcoin as alternative money while it will compete with many other kinds of money.
- According to Dalio, Bitcoin may never reach 1 million.
- Dalio also said that he was interested in NFTs
Ray Dalio, a billionaire investor & founder of the BridgeWater associates, one of the most successful & sophisticated asset management company, appeared on one of the most famous Podcasts after Joe Rogan’s, Lex Fridman’s podcast.
During the hour long conversation between Lex & Dalio, many tangents were pondered upon, discussing topics on Money, History, Governments & more importantly, Bitcoin.
When asked about Dalio’s view on Bitcoin, he stated that it was a kind of an alternative money that has obtained its value from its imputations but will also receive competition from rising markets. According to Dalio, the future may hold many different kinds of money, while Bitcoin being one of a kind, he further implies that there could exist other kinds of money, apart from cryptocurrencies.
While considering it an alternative currency, Dalio still prefers Gold to Bitcoin as a Store-of-value, as it has been universally accepted as money for many thousands of years.
ALSO READ – Shiba Inu beats Bitcoin as the most popular crypto of 2021
While mentioning the same, he also pointed out the differences where gold cannot be traced, but Bitcoin can be traced if one puts in work considering it a possibility. Gold is also the third most held asset in the central bank’s reserves around the globe.
According to Ray Dalio, Bitcoin can also never reach $1 million, as he then points out to his analysis where the overall worth of Bitcoin is only 20% of that compared to Gold, which also excludes the reserves stored in central bank & jewelry.
The overall market capitalization of cryptocurrencies stands at $2.4 Trillion of which Bitcoin contributes the most, inching toward the $1 Trillion mark; however it comes nowhere near gold as it has a market capitalization of more than $5 Trillion gold.
The Billionaire investor also showed keen interest towards NFTs while also stating that it was happening and it seemed real, while he intends to buy NFTs, yet the legendary investor hasn’t owned any as he’s still learning about them. However, Dalio did find Elon musk’s effort to launch doge prices to the moon as cute while also casually toying with the fact that markets were volatile in nature.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
