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Billionaire Dalio Backs 15% Bitcoin (BTC) or Gold Allocation
"If you were neutral on everything, in other words, you didn't have a point of view, and you were optimizing your portfolio for the best return-to-risk ratio you would have, you would have about 15% of your money in gold or Bitcoin," he said
Dalio has stressed that he "strongly prefers" the yellow metal to gold, but he has stressed that the choice is up to investors
The Bridgewater Associates founder claims that he continues to hold "some Bitcoin" after initially purchasing the leading cryptocurrency back in May 2021
Central banks will not touch Bitcoin
The legendary hedge fund manager noted that Bitcoin has a limited supply as well as certain transaction benefits, with many perceiving the original cryptocurrency as money
That said, he doubts that any central bank will actually hold BTC as a reserve currency since the cryptocurrency offers no privacy
Dalio has also seemingly questioned the technological aspect of Bitcoin. "And there is a question of whether the code could be broken or things can be done to make it, let's say, less effective, including government controls of it," the billionaire commented
Dalio's debt warning
As reported by U.Today, several Bitcoin proponents urged investors to buy more BTC after Dalio issued a warning about unsustainable US debt following the passage of the sweeping tax and spending bill
During his most recent podcast appearance, Dalio said that the US has accumulated a debt that's six times the amount of money it takes in. "And so, when we look forward into the next year, the supply of debt that the US will have to sell is about $12 trillion," he added