The billionaire founder of the investment company Bridgewater Associates, Ray Dalio, does not rule out the possibility of bitcoin's growth, but still prefers gold. He said this in an interview with CNBC.
Dalio said that he holds a "very small volume" of bitcoin.
"If you put a gun to my head and let me choose only one of the two, I will choose gold," he added.
At the same time, the billionaire admitted that bitcoin remains an important tool for portfolio diversification:
"There are certain assets that are worth holding to diversify the portfolio, and bitcoin is in some way digital gold."
Dalio has been betting on gold for a long time, and his Bridgewater invested over $400 million in the precious metal in the second quarter of last year. Gold, according to him, simultaneously reduces risks and increases the return on investment.
In the past, Dalio criticized bitcoin, but began to change his position from the end of 2020. At the same time, he admits that he is not able to predict the future direction of the market, and admits a "fairly high probability" of a ban on cryptocurrencies by the authorities:
"If bitcoin becomes significant, the authorities will not allow it. They will make it illegal and use all the tools they have to force it. They will say: “You can't make transactions with Bitcoin, you can't have bitcoins.” Then you will think “ " Is this a crime? I have to be a criminal to translate it.""