Ray Dalio, the Associates’ head at Bridgewater, appeared on a podcast of Lex Fridman. The respective interview, which comprised of an hour, took account of several subjects spanning from the Empires’ collapse to NFTs, Bitcoin, as well as the relationship between Musk and DOGE.

Bitcoin, good or bad?

The biggest token in the world of cryptocurrency, Bitcoin, has witnessed a lot of progress up till now with having its existence for more than a decade. The primary crypto’s evolution has been remarkable. Several upgrades along with institutional adoption and demand have played a vital role in this scenario. He perceives BTC to be substitutive money, asserting that the token has imputed value

 He considers that this position of Bitcoin will not shield it from mounting competition. A struggle is being witnessed between diverse currency kinds due to the prevalence of printed money. Ray Dalio added that Bitcoin is included in the race however there would be several other currencies (not only the cryptocurrencies). He further stated that the present scenario includes NFTs to be the resilient and rapidly growing sector in the crypto world.

He moved on to mention that a huge upsurge has been seen by NFTs during the earlier phase of this year. In this way, he is of the view that the NFTs could turn into an independent money type. The US-based billionaire has up till now been reluctant in purchasing any of the NFTs, however, he is still curious and he remarks that it is his wish to purchase NFTs as the respective field is the real one however he still prefers gold over the other things.

He points out that gold is prioritized due to its acknowledgment at a global level throughout history up till now. He also described some benefits of gold that do more than the digital competitor thereof. The gold cannot be traced back to its original owner as is the case with Bitcoin, he emphasized. Additionally, gold is placed at the position of being the third-biggest holding under the reserves of central banks throughout the world.

Bitcoin to surpass a million?

In Ray Dalio’s point of view, Bitcoin does not seem to touch the spot of $1 million. He thinks that the analysis states that it is not simply possible. As per him, the percentage of crypto accounts for gold’s 20% (without including the jewelry in the custody of the central bank). Therefore, BTC or the other cryptos cannot beat gold.