In a recent Podcast, Bridgewater Associates head discussed many topics of the crypto industry like Bitcoin, Dogecoin, NFTs, and Doge-Musk.
Ray Dalio is a popular personality in the crypto and non-crypto industry. He is Bridgewater Associates head. Recently he appeared in the podcast of Lex Fridman’.
Dalio noted that the biggest cryptocurrency Bitcoin grabbed better attention and adoption in the world with the completion of the demands of adopters and investors. Dalio said that he is also much influenced by Bitcoin.
Hedge fund manager head also said that Bitcoin achieved its imputed value. However this is now alternative money but still, there will be many types of money in this world and surely that will bring competition for Bitcoin.
“Bitcoin is part of that competition, but there will be many amounts of money (not just crypto money)”
Dalio also believes that Nonfungible tokens (NFTs) also have the potential to share the alternative money blanket and bring competition.
According to him, NFTs showed its better success in this crypto industry through unique concept use cases of Crypto and blockchain. And this shows that NFTs may standalone in this industry potentially with better potential.
Billionaire added on NFTs:
“I want to buy NFTs…This stuff (NFT) is happening, it is real…”
However, besides all this appreciation to this crypto industry and its king asset, Dalio said that Gold will remain God always as the best asset to store value because it was already a currency of the world.
“For BTC, you can trace it, who owns it, and so on”
On The price of Bitcoin, Dalio said that he doesn’t think that Bitcoin will touch $1 million this year or soon because its value is only 20% of the Gold.