Founder of Bridgewater Associates Ray Dalio said, “I don’t think Bitcoin is it” when it comes to effective money.
The famed investor instead proposed an inflation-linked coin that would retain its purchasing without the wild volatility typical of the leading cryptocurrency.
“I think it’s been quite amazing that for 12 years, what it has accomplished, but I think it has no relation to anything.”
He also said, “it’s a tiny thing that gets disproportionate attention,” backing up this point, he mentioned its market cap is a third of Microsoft’s. On top of this, many industries, including biotech, are much more appealing to him from an investment standpoint.
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