Has Bitcoin Won Over Fans? Bridgewater Associates Founder: Bitcoin is Similar to Gold, an Intriguing Alternative Asset

Bridgewater Associates founder Ray Dalio, who recently put forward the "Bitcoin hunt" theory, seems to have slightly changed his view on Bitcoin. He believes that cryptocurrencies have carved out a place in the past decade, with Bitcoin resembling an interesting alternative asset similar to gold.

During an AMA (Ask Me Anything) session held on the largest American forum Reddit, Dalio answered numerous questions from netizens, including topics such as the reshuffling of the world order, the Fed's market rescue, and the soaring stock market.

World Order Faces Major Shake-Up

When asked about his analysis "The Changing World Order" posted on LinkedIn after the financial market crash in March this year, netizens wanted to know how to cope with and mitigate the impact of the changing world order. Dalio responded:

Save money, diversify savings into different currencies and asset classes across countries.

Dalio said that this move could help alleviate future economic impacts, emphasizing the need to seriously consider historical trajectories and compare them with the present world to predict the likelihood of future events. He also recommended using "meditation" to enhance thinking abilities and relieve stress.

Bitcoin as an Alternative Asset to Gold

When asked if Bitcoin could solve the economic inequality caused by the U.S. monetary system, Dalio pointed out:

I think Bitcoin and other digital currencies have established themselves as interesting alternative assets similar to gold over the past few decades. They have similarities and differences with gold and real estate. Therefore, Bitcoin can serve as an alternative asset alongside gold and other diversified investments.

However, the asset Dalio is most bullish on remains gold. He stated:

The most important thing is to hold assets with the characteristics mentioned above in the investment portfolio: scarcity, liquidity, and value storage function, including stocks. Hold them and diversify investments, but not many people do so. Regarding gold and Bitcoin, I prefer assets that central banks also hold and transact.

A Slight Change in Attitude towards Bitcoin

Previously, in an interview with Yahoo Finance on November 7, Dalio sparked strong backlash from the crypto community with his "Bitcoin hunting" theory, believing that even if successful in adoption, governments would go to great lengths to ban Bitcoin and that it is not a good value storage tool.

However, after Bitcoin repeatedly hit new highs this year, Dalio's stance has softened, and he tweeted:

I might have missed some things about Bitcoin. If my arguments are wrong, I would be happy to correct my thinking.

Nevertheless, Dalio's remarks in this AMA are certainly the most friendly towards Bitcoin, but the content focuses more on discussing the decline of the U.S. and the rise of China, as well as global macroeconomics.