Ray Dalio believes that crypto is receiving too much attention

Ray Dalio, the renowned American investor and founder of the investment management firm Bridgewater Associates, recently stated that the cryptocurrency industry is receiving far too much attention.

Ray Dalio invests less in crypto

Dalio indicated in a recent interview on “The David Rubenstein Show: Peer-to-Peer Conversations” that he only owns a “tiny” quantity of crypto in his portfolio.

Remember that in May 2021, the billionaire investor stated that he holds bitcoin in the wake of the US government’s inflationary worries and monetary policy stances.

Ray Dalio went on to say that he believes Bitcoin would prove to be a stronger hedge against inflation’s catastrophic effects than government bonds. The hedge fund manager pointed out that holding cash is futile while real interest rates continue to fall, with investors anticipating yearly returns of 4%.

As TheCoinRise recently reported, Dalio had indicated that every trader should allocate up to 1%-2% of their portfolios to Bitcoin in a recent interview.

Dalio has not always been a supporter of Bitcoin. He was one of the most vocal detractors of digital currencies, praising them for their high volatility and even dubbing Bitcoin a gigantic bubble.

He has recently altered his attitude on cryptocurrencies and made an investment in the most popular digital asset. Ray Dalio had declared in December 2021 that Bitcoin has proven itself.

“It has proven itself. It has not been hacked; it has operated in an amazing way over that 11 years to be probably the most exciting topic among a lot of people. It has been used and is now obtained the status of having imputed value.”

Despite hailing Bitcoin’s success, famed businessman Warren Buffett said that its success might also be its doom, as governments may try to “kill” it.

If Bitcoin’s mainstream popularity continues at its current rate, Dalio believes authorities and governments would intervene because they “have ways of killing it.” Dalio recently said that Bitcoin will not reach $1 million mark.