RATE Group | Billionaire investor advises people to stay away from Bitcoin
76843
post-template-default,single,single-post,postid-76843,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Billionaire investor advises people to stay away from Bitcoin

24 Jan Billionaire investor advises people to stay away from Bitcoin

Posted at 03:05h in Bitcoin News by

[ad_1]

  • Ray Dalio said that Bitcoin is too volatile to be a store of wealth, at present. Instead, he suggests a small allocation in gold.
  • He also noted that currently, “cash is trash” and that investors must look for a well-diversified portfolio.

The founder of investment firm Bridgewater Associates, Ray Dalio, has warned people not to get involved with speculative currencies like Bitcoin in 2020. Appearing on CNBC’s “Squawk Box” at the World Economic Forum in Davos, Switzerland, Dalio said:

There’s two purposes of money, a medium of exchange and a store hold of wealth, and Bitcoin is not effective in either of those cases now.

He believes that Bitcoin is too volatile to be a store of wealth currently. Instead, he suggests a small allocation in gold. 

Because of the volatility, you can’t go next to it. Someday, you know, I would say Libra or something with more stable value has got more potential. But also, who is going to do the buying? Central…

[ad_2]

Source link

Tags:
, , , , ,