Ray Dalio says Bitcoin is not the answer, the community responds

While billionaire Ray Dalio believes that fiat is successful jeopardy, helium besides thinks that neither Bitcoin (BTC) nor stablecoins are the answer. In response, crypto assemblage members took to Twitter to explicit their sentiment connected the topic. 

In a caller interrogation connected CNBC's Squawk, Dalio shared his takes connected Bitcoin being a imaginable solution to the problems with fiat currency. The billionaire argued that it would not beryllium effective arsenic a store holder of wealthiness and a mean of exchange. Dalio besides highlighted that stablecoins are besides a replica of state-backed currencies and would besides not beryllium an effectual signifier of money.

Bitcoiners were speedy to respond to the interview, commenting that what Dalio has described arsenic what wealth should beryllium is already successful Bitcoin. A assemblage subordinate tweeted:

A assemblage member's thoughts connected the topic. Source: Twitter

In addition, a Twitter idiosyncratic cited assorted inherent features of Bitcoin and pointed retired that it's the solution Dalio is looking for. According to the assemblage member, Bitcoin's censorship resistance, neutrality, openness, constricted proviso and state from power marque it the reply to the monetary occupation that Dalio described. 

Meanwhile, different Bitcoin assemblage subordinate said that they were "orange pilled" by Dalio from his insights connected the past of money. The Twitter idiosyncratic believes that the interrogation shows that the billionaire is adjacent to "truly knowing Bitcoin."

Related: Billionaire Ray Dalio 'impressed' however Bitcoin survived the past decade

Dalio has historically gone backmost and distant erstwhile it comes to his presumption connected Bitcoin. In 2021, went from describing Bitcoin arsenic “one hellhole of an invention” to a much antagonistic narrative, speaking of a imaginable prohibition connected Bitcoin successful the United States and saying that helium would take golden implicit Bitcoin.

In 2022, the billionaire recommended a 1% to 2% Bitcoin allocation for capitalist portfolios. Back then, Dalio praised BTC for its resilience against hacks and said that it has nary amended rival successful the market.