Ray Dalio Says There’s Some Merit To Having BTC In Your Portfolio

Bridgewater Associates founder Ray Dalio says there’s some merit to having BTC in your portfolio in a recent interview that we read more about in today’s Bitcoin latest news.

Dalio noted:

“I’m not an expert on Bitcoin, but I think it has some merit as a small portion of a portfolio. It has been an amazing accomplishment for Bitcoin to have achieved what it has done, from writing that program, not being hacked, having it work, and having it adopted the way it has been.”

He echoed some common talking points among Bitcoiners because it’s almost a younger generation’s alternative to gold with no intrinsic value but it did impute value and therefore it has some merit. According to the CNBC Millionaire Survey, millennial millionaires are planning to add more BTC to their portfolios in 2022. according to the survey, 83% of the millennial millionaires already hold crypto, and about half of those surveyed hat 50% of their wealth in crypto already. About 48% plan to add crypto to their holdings and 39% don’t plan to decrease their current levels of crypto investments. The president of Spectrem Group, George Walper who conducted the survey, added that the generational shift presents a challenge to wealth managers around the world:

“This is a big difference between different generations of wealth. I’m not sure the wealth management industry has recognized that they really need to think of these as completely different generations. Most firms were hoping to ignore it. But millennial millionaires are not going to just ‘grow out of crypto.”

Much like most millennial millionaires, Dalio is bullish on Bitcoin’s future but he sees the drawbacks to the cryptocurrency. He even suggested that BTC will probably get outlawed In some places if it is considered a threat to governments which is a risk he talked about when he disclosed that he held crypto in his portfolio.

In an interview with CNBC, the Bridgewater Associates founder shared his opinion of the issuance of the digital dollar and a central bank digital currency and said that it will certainly have its uses and be viable but according to him, it will not be the most competitive one. Ray Dalio believes that China’s digital yuan will outpace the dollar as it will be more competitive in terms of value and use.