American billionaire, hedge fund manager Ray Dalio finds that Bitcoin can offer protection against the "depreciating value of money".
Earlier Dalio's fellow hedge fund legend Stanley Druckenmiller said that Bitcoin was better than gold. However, Dalio prefers gold first. Dalio mentioned that BTC along with some other cryptocurrencies has made huge progress over the last ten years. Next, Dalio expressed his opinion about different aspects of the global economy, involving the U.S. position, China, and the state of fiat currency.
He says that money printing would increase asset inflation assuming that simply keeping wealth in cash would lead to losses.Data shows that despite the financial decline of 2020, BTC has improved its position greatly. A number of Wall Street veterans and institutional investors turned to the crypto asset as a means against inflation.