Billionaire Ray Dalio Sees Devalued Dollar, Calls for Crypto Acceptance
Ray Dalio, renowned billionaire investor, warns of the potential devaluation of the US dollar due to excessive debt. At the World Economic Forum in Davos, he advocates for wider adoption of alternative monies, including cryptocurrencies.
"Excessive debt production necessitates alternative monies," stated Dalio, founder of Bridgewater Associates. "Countries and central bankers are considering this shift away from traditional bonds and debt holdings."
Bitcoin's surge in the past year highlights the growing interest in digital assets. The cryptocurrency's value has skyrocketed over 165%, with anticipation of a more crypto-friendly Biden administration.
Dalio has a history of bold market predictions, including warnings of stagflation and the country's substantial deficit. Despite not all predictions fully materializing, his concerns about the national debt are gaining traction.
In his new book, "How Countries Go Broke," Dalio expounds on the risks associated with excessive government borrowing. He believes the current 10-year Treasury yield near 5% could continue rising, impacting stocks and potentially driving investment into crypto and other alternative assets.
"The supply-demand imbalance for Treasury bonds poses a significant threat," cautioned Dalio.
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