Ray Dalio "Bitcoin has many problems... is less attractive than gold"

Billionaire investor Ray Dalio said Bitcoin (BTC) is less attractive compared to gold.

On the 22nd (local time), according to crypto-specialist outlet The Daily Hodl, Dalio said in a recent interview with Nikhil Kamath, co-founder of Indian brokerage Zerodha, "I hold a small amount of Bitcoin, but I consider it an inferior asset to gold."

Dalio stated, "Bitcoin is limited in supply and is perceived as a store of value, but because of several issues, it is unlikely that central banks or many institutions will hold it on a large scale." He specifically pointed to Bitcoin's public transaction ledger as a problem.

He explained, "Bitcoin transactions are all traceable, and governments can monitor and intervene," adding, "Gold differs from Bitcoin in that it is difficult to control and interfere with."

In fact, last month the Czech central bank purchased Bitcoin as part of a digital asset test portfolio, but it was reported to be an experimental investment separate from official foreign exchange reserves.

Dalio also raised concerns about network security. He mentioned, "There are various issues, such as the possibility that Bitcoin could be compromised or controlled, and the technical risk of being broken." Nevertheless, he maintains a negative view of fiat currencies.

Dalio said, "I have a bearish view on fiat currencies, so after considering alternatives I hold some Bitcoin," but added, "Even so, I still consider gold to be the more attractive asset."

The outlet analyzed, "There has been no case of the Bitcoin protocol itself being hacked. Nevertheless, energy usage issues, price volatility, and quantum computing risks remain topics of ongoing debate."