The founder of Bridgewater Associates, Ray Dalio, said in an interview that if he had to choose between bitcoins, which he considers digital gold and owns them, and the real yellow metal, he would choose real gold.
To the surprise of many, Dalio announced during the CoinDesk conference that he took possession of bitcoins back in May, saying that he prefers bitcoins rather than bonds.
Dalio is known as the golden bull, who has questioned the crypto space in the past. So, he specified that he only has a small number of bitcoins and he is not a large owner at all.
Last 2019, Dalio praised gold as an asset that reduces risks and increases profitability. Against this background, Bridgewater Associates, a hedge fund, invested more than $ 400 million in this precious metal in the second quarter of 2020. Therefore, it is not surprising that the CEO would choose gold if he had to choose between two assets.
One thing that worries Dalio about Bitcoin is his own success. This means that if the cryptocurrency attracts too much attention, governments may begin to feel threatened and resort to repression against the cryptocurrency.
It is noteworthy that Bitcoin is not the only asset that Dalio fears could be outlawed. Back in March, Dalio argued that because of such a large debt in the US, financial markets are entering a new paradigm, that is, when tax changes can be made in the form of bans on the movement of capital such as gold, bitcoins, and others.
This is such a big deal up to the point that there may be restrictions on where investors will have the right to move their capital.