US billionaire investor Ray Dalio says he holds some Bitcoin (BTC) but not a fan – he prefers gold.
Share your thoughts with former model Chris WilliamsonDalio said that while he prefers gold, bitcoin still offers things that metal doesn’t, like transaction tracking, and is “unpopular with governments.”
At the same time, he wondered why Bitcoin, which has a smaller market cap than Microsoft, would get more attention, but admitted:
“Who knows, there may be some factors in it that I don’t understand.
It’s about 30% the size of Microsoft, but Microsoft is just one stock among many. And it’s the center of attention. “
Explaining his preference for gold over bitcoin, the prominent investor said gold is the third-highest reserve asset among central banks after the dollar and euro — adding that the second yellow metal is timeless , and very popular.
Dalio, founder of hedge fund Bridgewater Associates, claims he owns “a little bit” of bitcoin. But given its extreme volatility, he intentionally keeps his BTC allocation low to limit downside risk.
Using a prudent investment strategy, Dalio shares:
“I don’t think much about bitcoin.”
Williamson noted that being a cryptocurrency investor comes at the expense of mental health. He explained that Dalio prefers gold because of the billionaire’s preference for “low-risk investments.”
“Volatile things will cost you.”
Dalio agrees with this comment, saying that he has seen people get very rich because of cryptocurrencies, but at the same time, some people become very penniless because of it.
When it comes to improving mental health, Daario was asked how to cope with the unpredictable world we live in. The prominent investor noted that usually during recessions and wars, most people are still working and living/uninjured – urging everyone to stand their ground.
When it comes to the inevitable chaos and constant bad news – especially negative financial news, In essence, disconnecting from yourself and turning off the TV sets you free, asserts Dalio — adding that friends and family are far more important than money.
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According to Cryptoslate