on Monday, 71-year-old Dalio disclosed his bitcoin investment for the first time while discussing the inflationary concerns that have fueled bitcoin's resurgence and rattled stock markets in recent weeks.
“Personally, I’d rather have bitcoin than a bond” as an inflation hedge, Dalio said in the interview, which was pre-taped on May 7 as bitcoin prices, then about 15% below an April peak, struggled to pare back losses from a flash crash sparked by mining concerns. "I think bitcoin's biggest risk is its success," he added of soaring investor demand likely spurring regulatory crackdowns, which have already started to materialize in China, crashing crypto markets by more than 50% from highs earlier this month.
As Dalio's interview aired on Monday, the price of bitcoin was about $37,775—climbing 11% over the past 24 hours but still down more than 40% from its latest peak. :"I might be missing something about bitcoin so I’d love to be corrected," before launching into a slew of perceived downfalls that echoed much of the bearish sentiment on Wall Street.
"Unlike gold, which is the third highest reserve asset that central banks own, I can’t imagine central banks, big institutional investors, businesses or multinational companies using [bitcoin]," Dalio tweeted at the time—just months before Goldman Sachs, Morgan Stanley and Tesla all started“One of the great [risks]... is the government having the capacity to control almost any of them—bitcoin or [other] digital currencies.
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