Billionaire investor Ray Dalio revealed Monday that he has some skin in the game on bitcoin — and said he’d rather invest in cryptocurrencies than buy bonds.
“I have some bitcoin,” said the founder of Bridgewater Associates, the largest hedge fund in the world. He did not say how much he owned.
He added in a pre-recorded interview with CoinDesk that as bitcoin becomes more popular, investors might choose to put their savings in the crypto rather than government-backed bonds.
“Personally, I’d rather have bitcoin than a bond,” said Dalio, who has been vocal about his displeasure with the low payout from bonds, especially during times of high inflation. The interview was recorded on May 6.
Dalio made his comments before the past week of whiplash that’s struck the cryptocurrency market.
Ray Dalio did not reveal how much of his wealth is invested in bitcoin.Getty Images for TechCrunch
When Dalio’s remarks were recorded earlier this month, bitcoin was trading at about $57,000 per coin, near the crypto’s peak. Last week, the digital currency fell below $40,000 per coin and nearly touched $30,000 before starting this week off with a comeback.
Bitcoin’s price was up more than 18 percent Monday