Senior hedge fund manager and former crypto skeptic Ray Dalio said in a new interview with Yahoo Finance that he invests in Bitcoin (BTC) and Ethereum (ETH). The famous billionaire was skeptical of crypto assets before, but now he says he sees them as alternative money.
Billionaire investor Ray Dalio says he is investing in Bitcoin (BTC) and Ethereum (ETH) as an alternative to cash these days, where money is rapidly losing its value. He also adds that he sees crypto assets as alternative money.
Ray Dalio : Well, I'm not going to give the precise amount of Bitcoin or-- but I do own some Ethereum as well. But the answer to your question is that I don't own a lot of it. I view it as an alternative money in an environment where the value of cash money is depreciating in real terms. And I think it's very impressive that for last 10, 11 years, that programming has still held up, it hasn't been hacked and so on, and it has an adoption rate.
Ray Dalio was previously skeptical of cryptoassets. Ray Dalio did not expect crypto-assets to gain such strength and adoption. He thinks that the long-term survival, growth and adoption of crypto assets will be very impressive.
Ray Dalio thinks cash will lose between 4% and 5% against inflation this year. In addition, Dalio states that crypto assets can act as a hedge against inflation. Ray Dalio thinks cash will lose between 4% and 5% against inflation this year. In addition, Dalio states that crypto assets can act as a hedge against inflation. He says cryptocurrencies play a role in diversifying investor portfolios.
I would like to say that cash-- I've been quoted, "cash is trash"-- that cash which most investors think is the safest investment is I think, the worst investment. And that it's important, because it loses buying power.
And then beyond that the important thing is to diversify one's portfolio well. Because we know from the surprises in the balance-- we also know that those asset classes on average significantly outperform and will significantly outperform cash.
And that they move between each other in a way that-- that has to do with correlations because of when things go down, when the economy goes down, then bonds will do better than stocks, and so on and so forth. So diversification of assets-- I view crypto as a small piece of that.
You can view the entire interview at this link.
Crypto markets continue to grow and become stronger day by day. Those who were against or skeptical of crypto assets in the past are changing their minds about this market, which is growing and getting stronger day by day. Not only are they changing their minds, they are making a rapid entry into the crypto market. I think the crypto market will see more adoption in the future and it will change the negative view of many investors.
Those who were once against cryptoassets and those who were skeptical are delving deeper into the crypto market as they see that the crypto market will grow much more in the future. Apple CEO Tim Cook, who has been closely followed by many investors in the past months, said that he invested in crypto assets. I think we will see more of this and similar news in the coming year. I think that the adoption rate of crypto assets will increase more in the coming year. As the rate of adoption increases, the crypto market will grow even more.
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