Ray Dalio prefers BTC and gold as global debt rises

Billionaire Bridgewater Associates founder Ray Dalio says he prefers “hard money” like bitcoin and gold over debt assets as debt continues to plague major economies.

“I want to move away from debt assets like bonds and debt, and have some hard money like gold and bitcoin,” he said in a speech during Abu Dhabi Finance Week.

Ray Dalio says debt is rising to “unprecedented levels”

The billionaire investor noted that debt in every major economy except Germany is rising to “unprecedented levels.” He later stated that “it is impossible that these countries cannot have a debt crisis in the coming years,” which, he said, “will lead to a huge drop” in the value of money.

Data The US Debt Clock shows that the total US national debt amounts to more than $36.12 trillion. This equates to about $107,013 in debt per citizen and $271,790 in debt per American taxpayer.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”14.120218579235″>

BREAKING: Total U.S. public debt hits a record high of $36.17 TRILLION, an increase of $1 trillion in the last 105 days.

The US federal debt has increased by an average of $9.5 billion per day over the past 105 days.

At the current rate, the total debt of the United States would reach $40 trillion for the first time in history… pic.twitter.com/ZaAMIM5UxT

— Kobeissi's letter (@KobeissiLetter) <a target="_blank" href="https://twitter.com/KobeissiLetter/status/1866627698501595306?ref_src=twsrc%5Etfw”>December 10, 2024

The Kobeissi Letter commented on the US national debt in a December 10 x post, stating that the amount has increased by $1 trillion in just the last 105 days. On average, the US federal debt has increased about $9.5 billion per day during this period, according to the post.

Dalio's change in crypto stance

Dalio's defense for gold and bitcoin marks a change of stance towards digital assets for the billionaire hedge fund founder. In 2021, he said that bitcoin and other cryptocurrencies would not be successful.

However, a year later in 2022, he said it is reasonable for investors to allocate 2% of their portfolios to btc in addition to gold to protect against inflation.

Despite the change in stance, Dalio has said he will continue to choose gold over bitcoin, adding that crypto it is still a small asset class.

Related articles: