Ray Dalio warned that investors shouldn’t become too reliant on cash and that while he owns some Bitcoin there’s a danger that governments could destroy the crypto market.
“First, know cash is trash, so don’t keep it in cash,” Dalio, the founder of US$150 billion Bridgewater Associates, told CNBC Wednesday.
Dalio, 72, who has a US$15.6 billion fortune, according to the Bloomberg Billionaires Index, said he has some money invested in Bitcoin, but it’s a small percentage of his investment in gold, which in turn is a small percentage of his other assets.
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