Ray Dalio Says Crypto Could Be An ‘Attractive Alternative’ As Fiat Money Will Struggle As ‘Effective Storeholds’ Of Wealth
Billionaire hedge fund manager Ray Dalio expressed optimism on Wednesday about the prospect of cryptocurrencies becoming an “attractive alternative” to struggling fiat currencies.
Dalio Bets On Crypto, Downgrades Fiat
During an interview with the Financial Times, Dalio was asked if cryptocurrencies could “meaningfully” replace the dollar.
“Crypto is now an alternative currency that has its supply limited, so, all things being equal, if the supply of dollar money rises and/or the demand for it falls, that would likely make crypto an attractive alternative currency,” he responded.
Dalio, the founder of Bridgewater Associates, argued that most fiat currencies, particularly those burdened with large debts, will face difficulties maintaining their value and will fall relative to “hard currencies.”
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