Billionaire Ray Dalio: Bitcoin is an alternative to Gold for Young Generation

Billionaire Ray Dalio shared his stance on Bitcoin and described it as an alternative gold for the young generation. 

Over the past few years, we can see numbers of billionaires and high profile personalities, who supported Bitcoin as an alternative option to invest Money as digital gold. However, it had been seen, many personalities criticized bitcoin and claimed that Bitcoin has no extrinsic value and also Bitcoin has no property like gold. 

Billionaire Ray Dalio recently appeared in an interview with MarketWatch. Through the interview, Dalio praised blockchain technology because it “earned credibility” all over the world. 

Ray Dalio is a popular and influential personality among fund managers. The current momentum and statement of Dalio proved that he is a fan of Bitcoin, however, he was not a fan in the past. 

Dalio admitted that he is holding some Bitcoins in his portfolio. Billionaire also suggested indirectly to the youngsters to go with Bitcoin investment and described Bitcoin as Gold for younger generations. He added:

“..a portfolio should start with, under a worst-case scenario, what assets protect it and make sure it’s diversified. It’s almost a younger generation’s alternative to gold and it has no intrinsic value, but it has imputed value and it has, therefore, some merit.”

Dalio also noted that there are many issues with Bitcoin and also in the future, there are huge chances that few governments will ban it when it will grab more attention than what they expect. 

Earlier in September of this year, Dalio said that Bitcoin will be killed by the governments if it becomes successful. So the overall statements of Billionaire Dalio hinted that he believes that the concept of Bitcoin is good and trusted but Central Banks will not adopt Bitcoin at all because it will act negatively against the traditional financial system.

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