Bridgewater Founder Ray Dalio Makes A Bullish Prediction For BTC

Bridgewater founder Ray Dalio, the billionaire investor, and hedge fund manager initially predicted that gold will become a major investment option during the ‘’paradigm shift’’ in the global markets. However, he forgot at that time about bitcoin, so let’s find out what he thinks now about this crypto asset in the latest cryptocurrency news below.

Dalio explained in a LinkedIn post that many people have invested in stocks and equities which is why this asset class is in danger of reaching a major drop in returns. In order for people to balance out their portfolios, they will have to turn to assets such as gold. He explained:

 “Additionally, for reasons I will explain in the near future, most investors are underweighted in such assets, meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset. For this reason, I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio.”

The Bridgewater founder advocated that gold is the only right option to choose for everyone that is looking to diversify their portfolio just in a time where most of the world seems to be investing in equities. This is not the only reason why Dalio believes that gold will witness a major surge in inflows. According to him, the global conflicts and the depreciating value of money will force them to go on the way back to safety. Gold will be the only asset to choose from for all the investors that are looking to store their wealth at a time when the central banks are trying to keep the interest rates low.

Dalio’s comments could make sense a decade ago when bitcoin was first launched. Gold is universally considered to be a safe-haven asset that the investors buy in order to protect their wealth in difficult times. Bitcoin, on the other hand, is gaining the confidence of institutional investors and there are only a few people who believe that the cryptocurrency will replace the gold.
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Dalio somehow forgot that the times have changed and bitcoin is now considered as the perfect replacement for gold as noted in the coming altcoin news previously.