Ray Dalio Says Fiat Money is “Rubbish” and Unveils He Owns Ethereum
World-wide known Billionaire Ray Dalio has said in a comment to Yahoo Finance that traditional currencies are a problem asset. He said:
“Most investors consider fiat money to be the safest investment. I think this is the worst investment.”
He believes users shouldn’t judge the profitability of their assets in nominal terms. He called for an adjustment for US dollar inflation, which caused investors to lose 4-5% in 2021. He said:
“For real diversification, distribute your investment portfolio not only by asset class, but also by country.”
Dalio has also unveiled that he owns Ethereum. However he has not said how much. He said he holds part of his portfolio in cryptos in order to have a diversified portfolio. He has added:
“I see it as an alternative money in the face of real devaluation of fiat money. It is impressive that programmable currencies lasted 10-11 years – they were not hacked, they have a level of acceptance.”
The billionaire has previously said Bitcoin is an alternative to gold for the younger generation. He has also noted the blockchain revolution is inevitable, but some governments may outlaw it.
