Ray Dalio – a prominent investor and founder of Bridgewater Associates – believes humanity is entering an era where there will be a competition of money, and bitcoin will be part of that contest. The primary cryptocurrency is also an alternative to gold, the billionaire added.
‘Bitcoin Has Proven Itself’
The 72-year old American has not always been such an advocate of the leading digital asset. At the beginning of 2020, he said bitcoin fails to serve the purpose of money and that “because of its volatility, you can’t go next to it.”
However, the COVID-19 pandemic and the mass printing of fiat currencies started changing Dalio’s stance on the asset. In January this year, he outlined his admiration for it, stating its longevity is “an amazing accomplishment.” A few months later, the investor admitted he had allocated a relatively small part of his wealth into BTC.
In a recent interview with Lex Fridman, Dalio reiterated his support for bitcoin. He explained that the r
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