Ray Dalio — billionaire and one of the world's richest hedge fund managers — admitted he owns Bitcoin.
What Happened: Speaking at Coindesk's conference Consensus, Dalio said that he holds "some Bitcoin."
He has not specified how much of his portfolio is allocated to the cryptocurrency or other digital assets, but he admitted that he prefers Bitcoin to government bonds.
"The more we create savings in it, the more you might say, I'd rather have Bitcoin than the bond. Personally, I'd rather Bitcoin than a bond," he shared.
In late April, Daliosaidthat Bitcoin has proven that it is worth keeping in portfolios as it has not been hacked in over ten years, has sound programming, and people are holding and adopting it. He also compared it to gold.
“We're in the part of the cycle where we're gonna produce more debt and more money, and the time for something with intrinsic value and the limited supply is appropriate. That's true of gold, but also bitcoin has proven those things in many ways," Dalio added.
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