Billionaire Ray Dalio is one of the world’s richest people who have started out as critics of cryptocurrencies like Bitcoin (BTC), only to end up investing in them, which is why many wonder how much of that digital asset the retired founder of the Bridgewater Associates hedge fund truly has.
Indeed, the author of the personal investment book ‘Principles: Life and Work’ used to be hesitant about Bitcoin, arguing it was “not very good as a store-hold of wealth because its volatility is great and has little correlation with the prices of what I need to buy,” back in November 2020.
On top of that, he did not see a future in which “central banks, big institutional investors, businesses, or multinational companies [are] using it,” but at the same time, he opened himself up to the possibility of being proven wrong, as Finbold reported at the time.
Change in stance
However, only a month later, in December 2020, Dalio appeared to have changed his stand on the flagship decentralized finance (DeFi) asset, stating in a Reddit Ask Me Anything (AMA) session that Bitcoin could serve as a “gold diversifier” and a store hold of wealth in the future.
In May 2021, he revealed that he owned “some Bitcoin” during CoinDesk’s 2021 Consensus conference. One year later, the billionaire investor reiterated his position that Bitcoin had made “tremendous achievements over the last decade,” emerging as an alternative to gold, which is why he included some of it in his investment portfolio, albeit only “a tiny percentage.”
1% or 2% of portfolio
Although it is not clear how much this ‘tiny percentage’ is, in January 2022, Dalio told William Green, the co-host of the We Study Billionaires podcast, that allocating 1% to 2% of one’s portfolio to Bitcoin was reasonable, which means he himself might have the same percentage of his wealth invested in Bitcoin, with his net worth currently standing at roughly $19 billion.
According to hedge fund manager Anthony Scaramucci, Ray Dalio is an example of a “brilliant guy” who has “done the homework” on Bitcoin, observing how he used to be “a Bitcoin skeptic” and was “now a Bitcoin investor,” as Finbold reported in October 2021.
Meanwhile, Bitcoin was at press time trading at the price of $30,067, recording an increase of 6.09% on the day, adding up to the 8.09% accumulated over the past week and the 46.51% gain on its monthly chart, as per the latest data retrieved by Finbold on April 11.
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