Investment legend Ray Dalio evaluated the steps that investors can take under current conditions at the event attended yesterday. Commenting on the general course of the world economy, Ralio explained that it does not make sense to have cash right now.
Renowned billionaire Ray Dalio, who recently gave mixed signals about Bitcoin (BTC), attended the Bloomberg New Economy forum and examined the state of the global markets. Ray Dalio, founder of Bridgewater Associates, cited how much money central banks print and warned investors of a possible wave of inflation.
Should cash be kept at the moment?
Ray Dalio emphasized that during the event he attended, states started to borrow too much and print too much money within the scope of the fight against Covid-19. The famous billionaire said that this is why the flow of capital in the markets started to change direction and gave the message that it would not make much sense to buy bonds or keep the money in cash.
Dalio also questioned the efficiency of investing in a single investment vehicle during the current period. Stating that we are in a suitable time to diversify the portfolio, Dalio urged investors to explore different investment instruments and asset types.
Dalio, who has made largely negative statements about Bitcoin so far, shared a post on his social media account this week and said that he may be wrong about Bitcoin.
Switching from gold to Bitcoin
The capital flow issue that Dalio focused on was also on the agenda of Deutsche Bank analysts this week. Deutsche Bank examining the general situation in commodity markets; He said that investors who normally buy gold to protect themselves from inflation may have started buying Bitcoin as an alternative investment tool.
As stated by Jay Clayton, the President of the Securities and Exchange Commission in the USA, Bitcoin, which has begun to be seen as a “store of value”, continues to gain value with all these developments. While the Bitcoin price is currently being traded at $ 18,300, BTC is 9 percent away from the price record it broke in 2017.