Billionaire investor Ray Dalio appears to be changing his opinion and turning bullish on Bitcoin, saying it had now established itself and was an interesting gold-like alternative asset.
The Bridgewater Associates founder wrote his latest sentiments in a Reddit AMA yesterday. The famed hedge fund manager noted Bitcoin’s ‘limited-supply, mobile (unlike real estate) storeholds of wealth’ were an attraction and made it a complementary investment alongside gold.
‘I think that bitcoin (and some other digital currencies) have over the last ten years established themselves as interesting gold-like asset alternatives with similarities and differences to gold and other limited-supply, mobile (unlike real estate) storeholds of wealth,’ wrote Dalio.
‘So it could serve as a diversifier to gold and other such storehold of wealth assets. … The main thing is to have some of these type of assets … including stocks, in one’s portfolio and to diversify among them,’ said the Bridgewater founder. Read More