Billionaire Ray Dalio recommends ‘reasonable’ 1%–2% Bitcoin allocation

cointelegraph.com:

Hedge fund manager Ray Dalio remains bullish on Bitcoin (BTC) in 2022, listing three primary reasons why Bitcoin is “impressive.” In a recent interview with The Investors Podcast, he talked up gold and BTC as an inflation hedge.

When prompted by interviewer William Green about what a sensible allocation for a layperson would be, Dalio said that he agrees with fellow billionaire Bill Miller’s suggestion that 1%–2% is the right allocation.

He explained that the network has never been hacked; it has no better competitor; and BTC adoption rates would suggest that it could further chip away at gold’s market capitalization:

The founder of the world’s largest hedge fund, Bridgewater Associates, Dalio echoed comments made last year during the recent interview with the podcast, saying he was impressed that Bitcoin has survived the past decade while reiterating that he is “not favorable to cash.”

Related: There’s a Bitcoin boom among Baby Boomers, reports BTC Markets

Dalio did caveat his musings on the rise of Bitcoin, highlighting the zealotry surrounding the Bitcoin community as being a possible Achilles heel, and as is to be expected for the investor known as “Mister Diversification,” he also asked a broader question regarding digital assets:

He waxed lyrical about nonfungible tokens and other coins as potential diversification destinations. For the moment, however, BTC occupies a place in his “inflation hedge asset class” alongside gold.