The founder of Bridgewater posted an explanation of why Bitcoin isn't fulfilling the role of a safe-haven asset that was expected of it.
Three reasons according to Dalio:
- Bitcoin doesn't provide privacy—transactions can be tracked and potentially controlled, which is why central banks aren't eager to hold it.
- High correlation with tech stocks—when investors face pressure in other parts of their portfolios, they sell Bitcoin to cover losses.
- It’s a relatively small and manageable market.
Gold is more widely distributed, deeply entrenched, and still plays a central role in the global system. There’s only one gold.
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