In a recent interview on Chris Williamson’s YouTube podcast, billionaire Ray Dalio shared his thoughts on Bitcoin, revealing that he has a small amount of the cryptocurrency, but still prefers gold.
Despite admitting to having some BTC, Dalio remains cautious about the digital asset, warning that investors need to be prepared for it to potentially drop by 80%.
He argues that gold remains a more reliable investment, particularly when considering its status as the third-largest reserve asset for central banks worldwide.
While analysts at financial firm Standard Chartered predict that BTC’s value could jump to $100,000 by the end of 2024, Dalio questions why people are more inclined to invest in Bitcoin than gold.
According to the billionaire, central banks are still buying gold, not bonds, indicating its continued significance as a safe-haven asset.
Recently, after the collapse of three American banks, investors have turned their attention to the world’s first cryptocurrency.
Meanwhile, Robert Kiyosaki, the bestselling author of Rich Dad Poor Dad, remains bullish on BTC and believes it will soon be worth $100,000.