Ray Dalio Warns Against Bitcoin as a Safe Haven

Billionaire investor Ray Dalio warned against Bitcoin as a long-term store of value and safe-haven asset, saying it has little central bank backing and noting persistent concerns about its privacy limits and quantum resistance. He dismissed the idea of Bitcoin as digital gold, saying "there is only one gold," and described gold as the "most established money" and the second-largest reserve currency held by central banks.

Dalio said he does not see why central banks would buy and hold Bitcoin over the long term. He has previously acknowledged Bitcoin’s hard money characteristics but pointed out it still has "a pretty high correlation with tech stocks," and that supply and demand can be affected if investors are forced to sell other holdings.

He also raised privacy worries—"any transaction can be monitored"—and warned that quantum computing could threaten the network. In July, Dalio recommended a 15% portfolio allocation into Bitcoin or gold to seek the "best return-to-risk ratio" amid America’s debt challenges and currency debasement.

United States

ray dalio, bitcoin, gold, central banks, safe haven, privacy, quantum resistance, digital gold, tech stocks, portfolio allocation