Ray Dalio: "Bitcoin and stablecoins will not be able to replace the usual money" – Bits Media

The founder of the Bridgewater Associates Asset Management company Ray Dalio counts, that fiat currencies lose value, However, bitcoin and stablecoins will not be able to become their effective replacement.

As a guest of the Squawk Box program on CNBC, billionaire Ray Dalio (Ray Galio) expressed fears, that the mass printing of dollars by the US Federal Reserve System (FRS) devalu this state currency, And this applies not only to the United States, but also other countries. but, According to Dalio, Bitcoin will not be able to solve this problem, Since for 14 years of its existence, he is still unstable, to fulfill the function of money. Hope is also small on stabiblco, Since they became copies of fiat currencies, supported by the state, The head of Bridgewater Associates noted.

“Bitcoin is too early to be an alternative to ordinary money. This is an ineffective tool to maintain values ​​or pays payments. Bitcoin attracts too much attention, Although its value is less 1/3 Microsoft capitalization. But we live in the world, Where is the money, What are we used to see them, are in danger ", - said Dalio.

Instead of using stablecoins and ordinary cryptocurrencies, Dalio proposed to create a coin, tied to inflation, which would guarantee people to preserve their purchasing power. The most optimal option may be a bond with an inflation index, Dalio argues. If a person knows his purchasing power, He can save his money, put them somewhere for a certain period or make transactions anywhere. A similar coin will perform the function of money well, Dalio said.

However, not everyone agrees with the opinion of Dalio about Bitcoin and his idea of ​​a viable coin. For example, Asset Management Manager at Bitcoin for Family Officers Eric Weiss (Eric Weiss) Wrote on Twitter, that bitcoin is very close to solving world problems, Despite its volatility, And decisions, "Inadvertently described by Dalio", It simply does not exist.

Note, what in 2021 year Dalil called Bitcoin "gold for young generation", But last year, the billionaire doubted the ability of the first cryptocurrency to compete with precious metal.