In a recent interview on The David Rubenstein's Show, billionaire investor Ray Dalio said that he finds crypto interesting, and holds a small part of his holdings in digital assets for diversification.
However, the entrepreneur also mentioned that the sector is vulnerable. Dalio said it can be tracked, and various governments can outlaw crypto assets. Also, Dalio finds crypto faces issues related to its size.
According to him, there's too much attention spent on cryptocurrencies as some people can be gold bugs or hold gems, but the thing is that nowadays there will be different forms of money and people will question it as a medium of exchange. He mentioned that money is also a strorehold of wealth.
Dalio oversees that the competition of which forms of money, whether digital or fiat are more valuable is ahead.
Talking about the rise of interest rates, Dalio said that accordingly prices of stocks and other assets will adjust, and now it’s another cycle than making easy money during market dip. Currently, the total crypto market cap stands at around $1.9 trillion. Over the last 24 hours, the amount increased by 7.8%.