Ray Dalio, founder of Bridgewater Associates, believes cryptocurrencies are too vulnerable, easy to track and likely to be banned by several governments.
In an interview with David Rubenstein, he has said that given the size of the cryptocurrency market, it is "getting too much attention." In addition, Dalio has confirmed that digital assets make up "a small percentage" of his personal investment portfolio.
The billionaire announced in December 2021 he had invested in Ethereum to diversify his portfolio. Although he did not disclose how much he had invested in the cryptocurrency, he said he had not invested "a lot."
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Dalio has pointed out during the interview the use of cryptocurrencies is fraught with risks, not the least of which are related to the transparency of blockchain. The billionaire has also said digital assets "will possibly be banned by various governments."
According to head of Bridgewater Associates, people are increasingly wondering what to use as a medium of exchange and store of value. He has emphasized fiat money will experience increasing competition from digital currencies.
Dalio has also advised creating an investment portfolio diversified across asset classes and markets.