World Economic Forum | Bridgewater Founder Ray Dalio Reiterates: Blockchain is Great, Bitcoin is Digital Gold, Cash is Trash

Ray Dalio, founder of Bridgewater Associates, at the ongoing World Economic Forum (WEF) in Davos, Switzerland, expressed his views on the current economic situation, stating that blockchain is great. He referred to Bitcoin as "digital gold."

During the ongoing World Economic Forum WEF in Davos, Switzerland, Ray Dalio, founder of Bridgewater Associates, expressed his view on the current economic situation, stating that blockchain is great. He referred to Bitcoin as "digital gold."

He further encouraged investors to look for diversified alternatives beyond gold, suggesting some allocation to other cryptocurrencies compared to gold.

It is well known that Dalio has had doubts about Bitcoin in the past, believing it would face global crackdowns. However, since May of last year, Dalio has started investing in Bitcoin, allocating a small portion of his funds directly into digital assets. He also firmly believes that governments will tax cryptocurrencies in ways that will be "more shocking than expected."

He has always considered cash to be trash. Two years ago at the WEF in Davos, he expressed the same sentiment. His definition of cash includes not only the US dollar but also the euro and the yen, as people are rapidly losing purchasing power with cash. When asked about the loss of purchasing power with cash, he replied, "Stocks are more trash than cash. The key is to find assets that truly give returns."

Dalio sees a bleak outlook due to multiple threats facing the global economy. Specific threats such as the Russia-Ukraine war, food shortages, China's Covid-19 lockdowns, among others, do not have clear resolutions and exacerbate pessimism. German Vice Chancellor Robert Habeck stated at the forum that there are at least four crises globally, which are interrelated - high inflation, energy crisis, food shortages, and climate crisis. Focusing on just one will not solve the problems.

In the interview, Dalio pointed out that the US economy is experiencing three major events: "There is too much debt, too much money, internal conflicts between the left and right, which affects politics and the economy, and rising powers challenging the existing world power and order." He also mentioned that even raising interest rates may not stop inflation, as there is too much money being released at very low rates, causing a perpetual imbalance in supply and demand.

This article is authorized by Horizon News Network