Ray Dalio, founder of Bridgewater Associates, one of the world's largest hedge fund managers, expressed concerns about a possible debt crisis in the global financial world and called for a shift to assets such as Bitcoin (BTC) and gold.
The famous billionaire shared that debt will affect major economies around the world, which is why he prefers gold and Bitcoin over other assets.
Speaking at a financial conference in Abu Dhabi, Dalio said he was staying away from debt assets such as bonds and turning to harder currencies such as gold and Bitcoin.
“The debt of all major economies except Germany is at unprecedented levels and continues to rise. It is almost certain that countries will experience a debt crisis in the coming years, leading to a major devaluation of their currencies.
So I want to stay away from debt assets like bonds and have some hard money like gold and Bitcoin.”
Famous billionaire Ray Dalio previously believed that cryptocurrencies like Bitcoin would not be as successful as people hoped, but in recent years he has emerged as a big BTC supporter.
*This is not investment advice.
