Ted Cruz (R-TX) – a crypto-supportive Republican senator – believes a US Central Bank Digital Currency (CBDC) is likely to become a reality. The politician believes both the Federal Reserve and the White House currently want one, and that the Democratic party won’t vote against its issuance. In an interview published by What Bitcoin Did on Friday, Cruz discussed the current political climate surrounding crypto. In general, the senator believes Democrats are more opposed to the industry than Republicans, due…
Bridgewater Associates fund CEO Ray Dalio has described Bitcoin as an alternative investment similar to gold. Dalio’s recent comments seem to indicate that he has relaxed his previous stance towards digital currency.
Bitcoin Bears Similarities Like Gold
The billionaire investments made these statements during a question, and answer session (AMA) held yesterday via Reddit. Dalio responded to questions regarding the financial scape and was asked about his position on digital currencies.
A user under the alias @NassimTalebisCoolLeb told Dalio the following: “I think it is clear that inequality in this country is too rampant, and we have lost our way as a capitalist nation. I think you recognize that the stimulus from the Central Bank has played an important role in this. Is Bitcoin a potential answer to this problem that the new international fiat monetary system has caused? ”
To which Dalio replied: “I think that Bitcoin (and some other digital currencies) have established themselves in the last ten years as interesting alternatives to assets similar to gold, with similarities and differences to the metal and other mobile deposits of wealth (as opposed to real estate) limited offer.
Therefore, it could serve as a diversifier for gold and other equity assets. The main thing is to have some of these types of assets (with limited supply, which is mobile and acts as stores of value), including stocks, in your own investment portfolio and diversify between them. Not enough people do that”.
However, this does not mean that the investor prefers Bitcoin over gold, as he later commented the following. “When it comes to Bitcoin relative to gold, I have a strong preference for holding those assets that central banks will want to retain and change in value when they try to transact.”
Bitcoin Continues To Make Wave In Traditional Finance
Dalio’s recent statements could be interpreted as a change in the investor’s position towards digital currencies. Although he remains firm in preferring gold over Bitcoin, he now considers digital currencies within the investment portfolio list.
Bitcoin has received positive remarks from reputable investors in traditional finance in recent months. This includes personalities like Robert Kiyosaki and Bill Miller, who have urged their followers to consider Bitcoin a viable alternative.