Bridgewater Fund's Dalio: I'd rather hold Bitcoin than bonds in the face of inflation

"I have some bitcoin," Bridgewater Associates founder Ray Dalio finally admitted. The prominent fund manager, who once claimed that cryptocurrencies would not succeed and that bitcoin would eventually be hunted down by governments, showed a friendlier attitude towards crypto at this year's Consensus summit.

Ray Dalio: I'd Rather Own Bitcoin Than Bonds

Bridgewater Associates founder Ray Dalio has previously stated, "Bitcoin's volatility makes it unsuitable as a stable store of value, and it has limited use as a medium of exchange, making it a failed attempt at adoption." Despite the increasing importance of Bitcoin, governments will not stand idly by and will use all means to prohibit this asset, such as prohibiting ownership and trading.

With the recent ban in China, Dalio's prediction has become even more prominent.

However, during this year's Consensus summit (note: pre-recorded on May 6th), Dalio stated that the US dollar is on the brink of devaluation, reaching its lowest level since 1971, and China is threatening the dollar's role as the world's reserve currency. Dalio believes that in this environment, Bitcoin, with its gold-like properties, is becoming increasingly attractive as a savings tool.

He mentioned that in times of inflation, "Personally, I'd rather own Bitcoin than bonds."

In the interview, Dalio voluntarily disclosed, "I have some Bitcoin." This may be one of Dalio's most affirmative statements regarding Bitcoin, but he still expressed concerns about Bitcoin. If Bitcoin poses a threat to national currencies, governments may take action. "Every country will want to control the monopoly on the supply-demand relationship. They do not want other funds to operate or compete because things could spiral out of control," he said.