Dalio explained that governments are not willing to lose their monopoly on money to the leading digital asset since “things could get out of control.”
To maintain their monopoly, governments are instead looking at central bank-backed digital currencies (CBDCs). Dalio opines that Bitcoin has proven itself as an asset class for the past ten years in the sense that it has never been hacked. He considers the flagship cryptocurrency a possible “alternative” to fiat.
In closing, Dalio still maintains his pro-Bitcoin stance. He calls the idea of owning cash “pretty crazy” due to depreciation. Furthermore, he thinks that the stock market is a bubble and is already halfway to peak levels.
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Source: Cryptocurrency - investing.com
