ChainCatcher News, Bridgewater Associates founder Ray Dalio stated on Tuesday’s All-In Podcast that Bitcoin is not suitable as a long-term store of value or a safe-haven asset, citing reasons such as lack of central bank support, as well as uncertainties surrounding its privacy protections and quantum resistance.
He said Bitcoin cannot become “digital gold,” emphasizing that “there is only one gold in the world.” Gold is not a speculative precious metal but “the most mature currency,” and it is the second-largest reserve asset held by central banks worldwide. He also expressed difficulty understanding why central banks would buy and hold Bitcoin long-term.
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