Ray dalio, the founder of the world’s largest hedge fund, Bridgewater Partners, say that Bitcoin (CRYPTO: BTC) will not be able to reach $ 1 million because it believes it will not exceed gold.
He said gold is still a preferable “store of wealth” since it has been “universally recognized as money” for thousands of years, remaining the third largest holding in central bank reserves around the world.
Dalio was speaking on the Lex Fridman podcast.
Talk about the Dogecoin (CRYPTO: DOGE), Dalio said that Tesla Inc, (NASDAQ: TSLA) CEO Elon muskThe effort to put the meme cryptocurrency on the moon is “cute.”
Speaking about Musk, Dalio said: “He wanted to take a spaceship to put a plant and a watering can on Mars. [calling it] first life on Mars, as an inspiring notion. ”
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“I have a lot of respect for Elon’s ability to do other things, so I would take that as symbolic, and I would ask him what’s behind it, what’s next.”
He spoke about NFTs and said they could become a stand-alone type of money. The US billionaire has so far refrained from buying NFTs, but he remains curious.
Earlier this month, Dalio noted that he owned Bitcoin and Ethereum (CRYPTO: ETH), but when asked how much he had, Dalio responded by saying he didn’t have a lot: “I’m very committed to diversification, and that’s a very small part of the wallet. “
In September, he spoke about regulators controlling Bitcoin and the danger that governments could destroy the crypto market or take full control of digital currencies if they become too popular.
Photo: Ray Dalio, Moritz Hager / World Economic Forum via Flickr