How Much Bitcoin Does Billionaire Ray Dalio Own?
Billionaire Ray Dalio is one of the world’s richest people who started out as a critic of cryptocurrencies like Bitcoin (BTC), then ended up investing in them, which is why many wonder how much of the digital asset he retired the founder of Bridgewater Associates hedge fund really has.
In fact, the author of the personal investment book ‘Principle: life and work’ used to be hesitant about Bitcoin, arguing that it wasn’t very good as a store of wealth because volatility is high and has little correlation with the prices of what I need to buy, back in November 2020.
On top of that, he did not see a future where “central banks, large institutional investors, corporates or multinationals [are] by using it,” but at the same time he opened himself up to the possibility of being proven wrong, as Finbold reported at the time.
Change in attitude
However, just a month later, in December 2020, Dalio appeared to have changed his stance on the decentralized finance (DeFi) flagship, stating in a Reddit Ask Me Anything (AMA) session that Bitcoin could serve as a “gold diversifier” and a store of wealth in the future.
In May 2021, he revealed that he owned “some Bitcoin” underneath CoinDesk’s Consensus Conference 2021. One year later, the billionaire investor reiterated his position that Bitcoin had made “tremendous achievements over the last decade”, emerging as an alternative to gold, which is why he included some of it in his investment portfolio, albeit only “a small percentage”. “
1% or 2% of the portfolio
While it’s not clear how much this “small percentage” is, in January 2022 Dalio told William Green, co-host of We study billionaires podcast, that it was reasonable to allocate 1% to 2% of one’s portfolio to Bitcoin, meaning he himself could have the same percentage of his wealth invested in Bitcoin, with his net worth of roughly $19 billion.
According to hedge fund manager Anthony Scaramucci, Ray Dalio is an example of a “brilliant guy” who has “done his homework” on Bitcoin, noting how he used to be “a Bitcoin skeptic” and was “now a Bitcoin investor”, as Finbold reported in October 2021.
Meanwhile, at press time, Bitcoin was trading at a price of $30,067, registering a 6.09% gain on the day, which equates to 8.09% accumulated over the past week and 46.51% gain on the monthly chart, in according to the latest data. retrieved by Finbold on April 11.
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