Ray Dalio: “Bitcoin is not the answer”

Investment legend and billionaire Ray Dalio has jumped from positive to negative on Bitcoin several times over the years. While he believes that fiat money essentially has no right to exist, he also thinks Bitcoin is not the answer. According to Dalio, stablecoins are also not the solution.

Ineffective

In an interview with CNBC, Ray Dalio shares his view of Bitcoin as a potential solution to fiat money’s problems. The billionaire believes Bitcoin is ineffective as a store of value and means of payment. He also does not see stablecoins, which are in fact a copy of government money, as an effective form of money.

The Bitcoin community naturally responded immediately to Ray Dalio. “It’s funny that he perfectly describes what money should look like, but he doesn’t see that all those properties are in Bitcoin. You’re almost there Ray, but you’ll need Michael Saylor’s help to see the light,” Baseload said on Twitter.

Become Bitcoiner by Dalio

Funnily enough, there were also some critics on Twitter who cited that they became Bitcoiners thanks to the insights of the investment legend. Ray Dalio is not only a gifted investor, but also the author of numerous successful books on monetary history. It seems that Dalio has been very close to becoming a Bitcoiner for a long time, but keeps not making the last step.

On the other hand, it is of course his right to hold a different opinion. No one has a monopoly on the truth, not even the Bitcoiners. It’s funny to see that Ray Dalio described Bitcoin in 2021 as a “heavy invention.” In 2022, he still advised everyone to invest 1 to 2 percent of their portfolio in Bitcoin. Based on his words to CNBC, he seems to have changed his mind again.

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