Billionaire Ray Dalio Bets on Bitcoin and Gold. What Does He Expect from Financial Markets in the Future?

Meanwhile, stablecoins, or tokens tied to the value of real assets and currencies—most often the dollar—are becoming an increasingly popular way to use digital assets.

According to analysts at Chainalysis, this category of digital assets currently accounts for about 75 percent of all transactions in blockchains. In other words, 3 out of 4 crypto transfers are carried out in stablecoins.

It’s easy to understand this trend. First, stablecoins allow anyone to protect their own capital in various national currencies from depreciation. Second, they allow you to create a reserve of blockchain-based assets that the government of a particular country will most likely not get its hands on.

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According to sources told Cointelegraph , the billionaire pointed to “unprecedented levels” of debt in all major countries, including the United States and China. He stressed that this situation in the global economy is extremely unstable, which means it deserves increased attention from market participants.

Here is a relevant quote on this matter.

There is no way these countries will avoid a debt crisis in the coming years, which will lead to a significant decrease in the value of money. I believe that the problem with monetary debt is really brewing.

In addition to what was said, the billionaire called for assessing the situation on a larger scale. Here is his comment.

Don’t get hung up on the day-to-day headlines, but instead think about the big drivers. I want to avoid debt assets like bonds and hold hard money like gold and Bitcoin.

What’s interesting is that Dalio wasn’t such a big fan of digital assets before. He believed that cryptocurrencies couldn’t succeed on the scale that many coin users expected. However, in recent years, Dalio has become one of the most prominent BTC supporters on Wall Street.

In 2022, Dalio said it would be wise to allocate up to 2 percent of an investment portfolio to Bitcoin in addition to gold to hedge against inflation. The billionaire has also previously emphasized that he would prefer gold to Bitcoin, noting the importance of diversification in investing.

Goldman Sachs CEO David Solomon echoes a similar sentiment, saying the financial giant is willing to “consider” working with Bitcoin and Ethereum if the US changes its rules on digital assets.

During the Reuters Next conference, Solomon was asked when Goldman Sachs planned to launch spot BTC trading. The answer was as follows, and the corresponding remark is quoted by The Block .

I do think that these technologies are solving important problems and are getting a lot of attention at the moment. However, there is a perception that the regulatory environment will evolve differently than it seemed under the previous US administration.

At the same time, the manager pointed out that it is not yet clear how exactly the rules will change. He continues.

If the market regulation structure changes, we will evaluate it, but at the moment we are not allowed to launch new projects in crypto.

Changes in crypto regulation may come amid promises from US President-elect Donald Trump. Before the November elections, Trump said he would create a strategic reserve for BTC and end the so-called Operation Noose 2.0.

Let’s remember that this term is a reference to the 2013 initiative of the US Department of Justice. Then the goal was to restrict banking services for industries considered high-risk in terms of fraud and money laundering, such as microloans and arms trafficking. This time, the target was the crypto industry.

Moreover, as the current court case between representatives of the crypto industry and the Federal Deposit Insurance Corporation (FDIC) has shown, the American authorities really tried to purposefully hinder the development of the coin industry. In particular, in 2022, FDIC representatives directly recommended that large banks “suspend all activities related to crypto assets.” Read more about this in a separate article.

Solomon also emphasized that he still considers Bitcoin a “speculative asset.” He continues.

These assets, like Bitcoin, you know, they’re speculative assets right now. But people are very interested in them, and I understand why.

In fact, Goldman Sachs launched its own crypto desk in 2021 and later participated in a series of tests on the Canton Network, a compatible network created by Digital Asset Holdings and designed to work with large institutional assets. Goldman Sachs has also noted increased interest in crypto products from its hedge funds.

Find more interesting things in our crypto chat . We are waiting for you there to start closely monitoring the situation on the market of coins and blockchain platforms today.