‘I don’t understand why people are more inclined to go to bitcoin than gold’, says hedge fund billionaire Ray Dalio

[pmbug]

Ray Dalio, billionaire and founder of Bridgewater Associates, holds a “little bit” of bitcoin but “doesn’t understand why people are more inclined to go to bitcoin than gold,” he said in a new podcast interview with YouTuber Chris Williamson. MarketWatch has reported in the past that Dalio holds bitcoin.

“Cryptocurrency or Bitcoin doesn’t move in a reliable way related to almost anything,” said Dalio in the episode uploaded on Tuesday. “It, you know, moves up and down because of this move and that move….and unlike gold let’s say.”

In the past he has said bitcoin is like gold, but that “gold is well established blue-chip alternative to fiat money” and his views haven’t changed much despite recent rallies in the token.
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‘I don’t understand why people are more inclined to go to bitcoin than gold’, says hedge fund billionaire Ray Dalio

I don't know what people he is referring to, but i think BTC is a speculative play for people gambling on some ROI. Gold is an insurance play against monetary/currency risks.

If we the people - as a collective whole (not just us bugs) - were to ever pressure the swamp to enact a Competing Currencies bill that put gold and silver back on a level playing field with FRNs, people would likely start saving more wealth in the metals.

 

[nickndfl]

Some cannot buy gold while others think they will get rich overnight with crypto.

 

[Joe King]

If we the people - as a collective whole (not just us bugs) - were to ever pressure the swamp to enact a Competing Currencies bill that put gold and silver back on a level playing field with FRNs, people would likely start saving more wealth in the metals.

I agree, but "The People" (beyond us 'bugs) would first need to have their monetary and fiscal ignorance fixed before there would ever be hope of them doing anything like that.
...and I see little hope of that ever happening. Try explaining even basic stuff about money and PM's to the average, and their eyes just glaze over.

Imho, "the People" won't do anything of the kind until what they already have, no longer works.
....and then they'll only be interested in a quick band aid type of a fix.

Some cannot buy gold while others think they will get rich overnight with crypto.

Many did exactly that.
...and anyone can buy gold. If they think they can't (assuming they have the $ to do so) it's only due to their own willful ignorance.

 

[pmbug]

... Try explaining even basic stuff about money and PM's to the average, and their eyes just glaze over. ...

I feel like a modern day, monetary focused version of Dennis the Peasant from Monty Python and the Holy Grail when I talk about it to non-bugs.

 

[Joe King]

I feel like a modern day, monetary focused version of Dennis the Peasant from Monty Python and the Holy Grail when I talk about it to non-bugs.

The day is coming when they will get 100 years of monetary and fiscal lessons in one fell swoop.

 

[Ttazzman]

didnt read the article but this is discussed in our family with my millennial kids

there reasons are no matter how trivalent

#1 convivence ... they can punch a few buttons on their phone and buy n sell
#2 the get rich aspect of bitcoin
#3 they have never been burnt on a down market (thats changing)
#4 its not techie or cool
#5 they live in a digital world and always have
#6 buying metals to them is buying options
#7 it doesnt pay "dividends"
#8 they cant leverage physical metal in their possession

and my kids were gifted metals all thru their lives and used gifted metals to buy their first cars etc and still own small amounts from their youths so they are aware of what a gold eagle is all about

also my kids are both fiscally conservative and have significant means

i have seen a small bit of change in attitudes associated with the last bitcoin drop but overall nothing has changed ..metals are for old codgers like me to bury in the backyard....i am giving metals to the grandchildren so maybe hope for the future LOL

 

[Voodoo]

They aren't. The plunge protection team / racket always pump Bitcoin when they want to try and slow a market decline.

 

[jrog100]

Well, most humans are stoopid. Look at how they vote in elections.