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Ray Dalio, the billionaire investor and founder of Bridgewater Associates, has once again shared his cautious perspective on Bitcoin. Surprise! He only holds a tiny portion of it in his investment portfolio.
During a lively chat on CNBC’s Squawk Box, Dalio shared, “I have a small percentage of Bitcoin… I’ve had it forever, like 1% of my portfolios,” highlighting his careful approach to this popular cryptocurrency.
Known for his sharp economic insights and somewhat skeptical views on Bitcoin, Dalio highlighted some barriers that make him doubt its potential as a global reserve currency.
He pointed out Bitcoin’s transparency and traceability as key issues, explaining that governments might shy away from a monetary system that can be easily tracked.
“It’s not going to be a reserve currency for major countries because it can be tracked,” he mentioned.
Is Bitcoin in Danger?
But that’s not all! Dalio also raised concerns about potential security risks lurking on the horizon. He warned that advances in computing—especially quantum technology—could pose a threat to Bitcoin’s cryptographic security.
“With quantum computing, it could be conceivably controlled, hacked, and so on,” he cautioned.
According to blockchain research firm Chainalysis, quantum advancements might jeopardize Bitcoin’s security within just 10 to 15 years, showcasing the technical challenges ahead for the network.
Dalio has been pretty vocal about his skepticism regarding Bitcoin’s future. Back in 2021, he warned that if Bitcoin gained too much popularity, governments might take action against it, stating, “If it becomes really successful, they will kill it. And they have ways of killing it.”
However, he hasn’t completely dismissed Bitcoin. In later discussions, he acknowledged its strength, mentioning it has “proven itself… it hasn’t been hacked, it’s stood the test of time.”
Bridgewater Associates’ latest filings with the SEC reveal an impressive $25.53 billion U.S. equity portfolio that includes over 1,000 different positions.
While he has previously likened Bitcoin to digital gold, Dalio still champions traditional safe havens like gold itself, which he describes as an asset “you can hold, and you’re not dependent on someone to provide it.”
His insights come as market nerves are fraying, with Bitcoin recently dipping below $86,000 after U.S. employment data delays and broader economic concerns. Although it reached new heights in October, it’s now fallen by 32%.
As of now, Bitcoin’s price stands at $86,521, based on the latest data from Bitcoin Magazine Pro.
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