Bridgewater's Dalio: Stablecoins are not a good store of wealth, and I have held a small portion of BTC for years

ChainCatcher news, in a recent interview with Caixin, Ray Dalio, the founder of Bridgewater Associates, analyzed the characteristics of Bitcoin and stablecoins and their roles in investment portfolios. He stated that he has held a small amount of Bitcoin for many years, and the proportion of his investment has not changed. He views Bitcoin as a diversified asset relative to gold, but also acknowledges its drawbacks, noting that central banks in various countries do not hold Bitcoin.

Ray Dalio further added that stablecoins are not a good store of wealth; their essence is that they can be exchanged for corresponding currencies and do not generate interest. Therefore, from a financial perspective, holding stablecoins is less advantageous than holding interest-bearing fiat assets. The advantage of stablecoins lies in their global usability, serving as a convenient clearing system for transactions, making them suitable for those who do not care about interest.

Regarding whether stablecoins can solve the U.S. Treasury issue, he believes that if stablecoin buyers already hold U.S. Treasuries, it is essentially transferring Treasuries from one pocket to another. Whether this can create new demand for Treasuries remains to be seen.