Crypto experts are pushing back after billionaire hedge fund manager Ray Dalio renewed his skepticism about bitcoin , arguing that the largest and oldest cryptocurrency lacks the qualities that make gold a reliable store of value.
Speaking on the All-In Podcast, the Bridgewater Associates founder said bitcoin should not be compared to gold because it lacks central bank backing, offers limited privacy and could face an existential threat from future advances in quantum computing. Dalio also pointed to the asset’s public ledger, suggesting transactions can be monitored and potentially controlled.
Dalio, who said last year that he has about a 1% allocation to bitcoin, isn’t new to the criticism of the digital asset. At the…
