Cailian News Agency, April 28th (Editor Zhou Ziyi)Billionaire investor and founder of Bridgewater Fund, Ray Dalio, recently stated that the trend of Bitcoin is not reliable. Compared to Bitcoin, Dario seems to prefer gold
Cailian News Agency, April 28th (Editor Zhou Ziyi)Billionaire investor and founder of Bridgewater Fund, Ray Dalio, recently stated that the trend of Bitcoin is not reliable. Compared to Bitcoin, Dario seems to prefer gold.
Dario bluntly stated on a program on Wednesday (April 26th), "I prefer gold
I don't understand why people tend to prefer Bitcoin over gold. If you look globally, gold is the third largest reserve asset for central banks, after the US dollar and euro. Central banks are rushing to buy gold over bonds because it is timeless and universal
During periods of global instability, gold often becomes more attractive, which has led to a surge in gold demand over the past year.
According to data from the World Gold Council, the amount of gold purchased by central banks in various countries increased by 152% year-on-year in 2022 to 1136 tons, reaching a new high since 1967.
When it comes to Bitcoin, Dalio claims that he is not a loyal fan of Bitcoin, but he also has a "bit of Bitcoin".
However, he pointed out that even small holders are particularly concerned about the volatility of Bitcoin.
The high volatility and risk of Bitcoin limit the amount of money investors can hold. Dario believes, "As I said, you must be prepared for a sharp drop in Bitcoin, it may fall by 80% or more... so I don't really think it's like Bitcoin
A report from Standard Chartered Bank on Monday mentioned that due to the decentralization of Bitcoin, it is also an attractive asset during times of financial system stress. The bank believes that by the end of 2024, Bitcoin may soar to $100000 per coin.
Bitcoin has soared by 80% so far this year, currently priced at around $30000 per coin, but it is still far below the high of $67000 reached in 2021.
In contrast, gold futures prices have risen by 8% since the beginning of this year, at the level of $2000 per ounce.
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