ICYMI: Ray Dalio doesn’t think that Bitcoin will be able to surpass gold BTC $BTC Dogecoin $DOGE
described Tesla CEO Elon Musk’s effort to put meme cryptocurrency Dogecoin on the moon as “cute."
He then went on to agree with Fridman’s point about the importance of humor and lightheartedness. , SpaceX, Musk’s aerospace manufacturer, was paid with Dogecoin in May to launch a 40-kilogram cubic satellite called DOGE-1 to the moon next year. The hedge fund boss views Bitcoin as “alternative money,” reiterating that it has obtained the status of having imputed value.
He predicts that there will be competition between different types of currencies because of rampant money printing:Dalio goes as far as saying that non-fungible tokens, which experienced an enormous surge in popularity earlier this year, could emerge as a standalone type of money.
He estimated that the flagship cryptocurrency is worth about 20% of gold , which sounds “about right” to the legendary investor.
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