Ray Dalio says he holds only 1% of his portfolio in Bitcoin, preferring gold due to concerns about quantum computing, government surveillance, and central bank adoption.
Macro & Markets ·
Ray Dalio, founder of Bridgewater, disclosed that Bitcoin comprises roughly 1% of his investment holdings, according to remarks made on The Diary Of A CEO. While he views Bitcoin as a form of currency resistant to printing, Dalio recommends that investors allocate 5–15% of their portfolios to hard assets more broadly, though he favors gold within that category.
Dalio articulated several technical and regulatory risks he associates with Bitcoin, including exposure to quantum computing threats, surveillance by governments, and taxation. He contended that central banks are unlikely to adopt Bitcoin at scale because the asset does not provide the privacy and control mechanisms these institutions require. He illustrated this argument by referencing Russia's experience: its foreign currency reserves faced freezing, whereas its gold holdings remained beyond reach.
The precise reasons why central banks would prefer gold's characteristics remain his stated basis for the preference, though his argument hinges on control and sovereignty concerns rather than technical merit of the asset itself.