Ray Dalio advocates for Bitcoin and gold over debt assets

Ray Dalio, the founder of Bridgewater Associates, has expressed his preference for investing in Bitcoin (CRYPTO:BTC) and gold rather than debt assets. 

During a speech at the Abu Dhabi Finance Week on December 10, Dalio highlighted concerns about an impending debt crisis among major economies. 

He noted that countries like the United States and China are experiencing record levels of indebtedness, which he believes are unsustainable. 

“I believe that there would likely be a pending debt money problem. I want to steer away from debt assets like bonds and debt and have some hard money like gold and bitcoin,” Dalio stated.

Dalio emphasised that the forces driving the economy include debt, money, acts of nature, and technological advancements. 

He also pointed out the significance of geopolitical factors in shaping economic conditions. 

By favoring BTC and gold, Dalio aims to preserve wealth amid these challenges.

“Don’t get too caught up on the twists and turns of the day-to-day headlines, and instead, think more about the big forces,” he advised. 

Dalio’s perspective marks a notable shift from his previous skepticism towards bitcoin. 

In 2020, he questioned bitcoin's potential for significant performance, when it was valued around 15,000 dollars.

Now, with BTC surpassing 100,000 dollars for the first time, Dalio has emerged as a proponent of the cryptocurrency.

Dalio's comments resonate with many investors who are reevaluating their portfolios in response to potential economic downturns. 

At the time of reporting, the Bitcoin price was $100,860.