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Ray Dalio Of Bridgewater Said He Would Choose Gold Over Bitcoin

Crypto Amendment
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EDITOR'S NOTE: Bridgewater CEO Ray Dalio, speaking at the Future Investment Initiative Institute conference in Riyadh, Saudi Arabia, says he prefers gold over Bitcoin or other cryptocurrencies these days. The billionaire “continues to predict that regulators will eventually kill Bitcoin.” He does admittedly have a small investment in Bitcoin, but his recent statements suggest he is far more confident about gold being the best inflation hedge and long-term store of value in these turbulent economic times. These concerns about inflation are also being trumpeted by some of the biggest names in the finance and tech world, with Tesla CEO Elon Musk and Twitter CEO Jack Dorsey both tweeting their predictions about rising inflation being a major problem. 

Ray Dalio, CEO of Bridgewater Associates, said that he would choose gold over Bitcoin during an event held by the Future Investment Initiative Institute, a non-profit organization run by Saudi Arabia's biggest sovereign wealth fund, in Riyadh earlier today.

Manchester City chairman Khaldoon Al Mubarak, on the other hand, would pick the top cryptocurrency instead of the lustrous metal.

BlackRock's Larry Fink and Goldman's David Solomon both said that they preferred the dollar over Bitcoin.

While BlackRock started dabbling in Bitcoin earlier this year, Fink remains highly skeptical of the benchmark crypto.

During an interview that took place earlier this month, he begrudgingly agreed with JPMorgan CEO Jamie Dimon's hot take on Bitcoin being worthless.
 
Fink, an outspoken supporter of ESG (environmental, social, governance) investing, also said that governments do not have plans extending 30 years in order to solve the key problems faced by humanity.

Despite Goldman Sachs relaunching its cryptocurrency desk and later announcing a new crypto team, Solomon is evidently far from turning into a cryptocurrency cheerleader.

Meanwhile, Dalio, who personally has a small Bitcoin investment, continues to predict that regulators will eventually kill Bitcoin.

The most recent comments by the three Wall Street titans come against a backdrop of growing inflation concerns in the U.S.

Earlier today, Tesla CEO Elon Musk, whose net worth is now approaching $300 billion, tweeted about short-term inflationary pressure, echoing the words of fellow billionaire Bitcoin supporter Jack Dorsey.

Originally posted on U Today.

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