Billionaire Ray Dalio reveals 'small' Bitcoin portfolio

Billionaire hedge money fable Ray Dalio says helium holds lone a “small percentage” of Bitcoin.

He said that bitcoin volition faces large structural hurdles earlier it tin realistically vie arsenic a planetary reserve currency.

On Nov. 20, the Bridgewater Associates laminitis reiterated long-standing concerns astir Bitcoin’s semipermanent vulnerabilities, contempt acknowledging that helium continues to support a tiny allocation.

“I person a tiny percent of Bitcoin… I’ve had it forever, similar 1% of my portfolios,” Dalio said connected CNBC's Squawk Box.

Bitcoin was down beneath $90,000 earlier this week aft the United States authorities failed to merchandise October jobs data, a macro daze that heightened uncertainty crossed hazard assets and tech equities.

Related: What is Crypto? Cryptocurrency explained

Dalio, regarded arsenic 1 of the astir influential macro investors of the past half-century, argued that Bitcoin’s transparency and method constraints marque it unsuitable arsenic the instauration of planetary monetary reserves.

“It’s not going to beryllium a reserve currency for large countries due to the fact that it tin beryllium tracked,” helium said.

He besides issued a renewed informing astir Bitcoin’s semipermanent information successful a satellite shaped by accelerating computing power, including quantum computing.

“It could beryllium conceivably, with quantum computing, controlled, hacked, and truthful connected and truthful forth.”

Chainalysis, a blockchain analytics firm, estimates that accelerating advances successful quantum computing could ace Bitcoin’s underlying cryptography wrong the adjacent 10–15 years, posing a semipermanent menace to the network’s security.

• Future quantum computers could ace Bitcoin’s underlying encryption.

• Hackers whitethorn prevention nationalist keys present and unlock them aboriginal erstwhile quantum tech matures.

• Experts pass this could beryllium imaginable wrong the adjacent 10–15 years. 

Related: New informing says quantum tech whitethorn ace Bitcoin by 2040

Dalio is the billionaire laminitis of Bridgewater Associates, the world’s largest hedge fund, and 1 of the astir influential macro investors of the past 5 decades.

Dalio has historically taken a cautious stance connected Bitcoin. In his earlier assessments, helium warned governments could yet determination against it:

“If it becomes truly successful, they volition termination it. And they person ways of sidesplitting it.” Dalio told CNBC successful 2021.

But by precocious 2021 and into 2022, Dalio softened his code arsenic Bitcoin gained broader adoption, acknowledging it had proven durability compared to aboriginal skepticism:

“Bitcoin has proven itself. It hasn’t been hacked, it’s stood the trial of time.” Dalio said during Lex Fridman Podcast.