On CNBC at the World Economic Forum in Davos earlier this week, billionaire hedge fund manager Ray Dalio claimed Bitcoin represents merely a small component of his portfolio.
Even while Dalio hasn’t revealed the magnitude of his holding in Bitcoin, he has previously advocated dedicating 2% of a portfolio to the cryptocurrency.
He once again admitted that Bitcoin has accomplished a great deal over the previous 11 years, but he stressed the significance of diversity.
Both Bitcoin and gold investors, in the opinion of the billionaire investor, become “too concerned” with their investing decisions.
While Dalio isn’t really a Bitcoin advocate, since Davos 2020, when the epidemic was just beginning, his views have evolved considerably. According to U.Today, the famed investor argued that Bitcoin was not money since it didn’t operate as either a store of value or a means of trade at that time.
Gradually, his anti-crypto attitude softened. According to reports from May of last year, billionaire investor Ray Dalio made a tiny investment in Bitcoin.
At the moment, according to Dalio, we are in a climate in which people are trying to figure out what the new currency is.
According to him, the value of all currencies would fall in proportion to the price of goods and services. As a result of the pandemic-induced market slump in 2020, Dalio’s renowned statement for cash to be “junk” did not hold up.
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