Ray Dalio: “Cash is Trash”
Co-chief investment officer and co-chairman of Bridgewater Associates, Ray Dalio says cash is a risky place to save wealth.
As he mentioned in an interview: “Do not think that cash is a safe investment.” Dario called the cash as “the worst investment”, mentioning gold as an option to save wealth. Furthermore, he stressed the importance of diversification.
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Nevertheless, Dalio does not consider Bitcoin as an alternative to cash. Earlier this year, he emphasized the volatility of Bitcoin, noting: “There are two purposes of money; a medium of exchange and storehold of wealth. Bitcoin is not effective in either of those cases now.”
Dalio believes we are hitting a depression that will be similar to that of the Great Depression of 1930s, and it will take years for the financial and economic system to recover. As he said: “We’re going to restructure our economy and restructure our financial system.”
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