Ray Dalio has published his thoughts on Bitcoin and digital currency generally, with the caveat that he is not an Bitcoin/cryptocurrency expert. His article begins as follows:
I am writing this to clarify what I think of Bitcoin. Please pay attention to what I am saying here and not what those in the media are saying I said because this is reliable. I am finding that those who want to promote Bitcoin (which is most people) are characterizing it one way while those who are against it (which are a few scared souls cowering in a corner) are characterizing it another way. As with most things I comment on, the reality has pros and cons and I am trying to be as accurate as possible to communicate what I understand these to be.
To reiterate, as I am not a Bitcoin/cryptocurrency expert, I believe my views are not valuable enough to be relied on so I shouldn’t put them out. I know how much one needs to know in order to have a valuable opinion in the markets, so I wouldn’t bet on my own views. Still, people demand my non-expert assessment of Bitcoin and clarifications in my own words are better than distortions in the media so here it goes, presented with the warning not to rely on it. The only thing I ask of you is that you read what I wrote here rather than pay attention to the sound bites in the media.
To see Mr. Dalio’s full post, click What Ray Dalio Really Thinks of Bitcoin (Jan. 29, 2021).
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.
