Dalio: Bitcoin cannot be compared with gold.

Ray Dalio takes a clear stance in the battle between gold and Bitcoin: the billionaire and founder of Bridgewater Associates believes that no asset can replace gold. During his appearance on the All-In Podcast on Tuesday, Dalio compared these two types of assets and explained why he thinks they are fundamentally different, and why this is important for investors. Over the past year, the price of gold has risen significantly while Bitcoin has experienced a decline. Dalio believes that the two do not belong in the same category of safe-haven assets. "There is only one gold in the world," he said, implying the common comparison between Bitcoin and gold. Dalio's concern with Bitcoin is more fundamental: central banks around the world will never buy or hold Bitcoin like they do with gold. In his view, Bitcoin is more like a speculative asset rather than a hedge tool. When the market is under pressure, investors tend to sell Bitcoin and buy gold instead. "It is recommended to allocate 5% to 15% of gold in a portfolio," Dalio suggests, "it serves as a buffer when things really go wrong. Gold often performs well when other assets are underperforming."