Ray Dalio owns Bitcoin and Ethereum

Ray Dalio owns Bitcoin and Ethereum

Ray Dalio: Bitcoin will be a player, but it’s not the only one

The billionaire Ray Dalio has spoken about his holdings of Bitcoin and Ethereum. The value of cash has been a topic of discussion for many crypto investors therefore institutional and individual investors have both moved their holdings into cryptocurrency. Due to this reason, Bitcoin and Ethereum have become more popular.

In an interview with Yahoo! Finance Ray Dalio spoke about the financial market. The host Andy Serwer directed a question towards the specifics of the crypto holdings in his possession. Dalio responded that he owns Bitcoin but has also added Ethereum to the picture. The billionaire refused to mention the amount of Bitcoin he owned. He explained that he doesn’t own too much Bitcoin as well as Ethereum. He was asked the reason behind why he holds cryptocurrency and his response was the following statement. “I view it as an alternative money in an environment where the value of cash money is depreciating in real terms,” he said.

The billionaire explained why he bought Bitcoin and Ethereum

Dalio went on to explain why Bitcoin and Ethereum are beneficial in relation to cash. He explained why cash is the worst investment. He said it essentially loses its buying power. Therefore, over time the longer someone has cash in their possession the lesser the buying power is.

The billionaire stressed the importance of investors diversifying their portfolios, explaining that what he had just done was for the purpose of diversification.  Although it’s a small part of the portfolio, it is a step in the right direction.

In conclusion, Dalio said that cash is a “problematic asset” therefore diversifying out of this asset is crucial. He added, “And that diversification should be also international diversification from countries, not just asset classes, in order to have a truly well-diversified portfolio.”

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Ray Dalio owns Bitcoin and Ethereum

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