Ray Dalio: Bitcoin Will Not Replace Fiat

According to US investor and billionaire Ray Dalio, fiat currency as an efficient store of value is “in grave danger”, but Bitcoin and stablecoins will not be able to cope with this role.

He has stated that the massive issuance of reserve currencies makes him doubt that they are a form of “effective money.”

He has added:

“We live in a world where money as we know it is under threat. We print too much, and it’s not just the US.”

According to Dalio, Bitcoin has achieved a lot in 12 years, but it is still too volatile to try on the status of money.

He has explained:

“Bitcoin is not an efficient store of wealth, not an efficient medium of exchange. The first cryptocurrency is a tiny thing that attracts a disproportionate amount of attention. For me, the value of bitcoin is less than 1/3 of the value of Microsoft shares.”