Ray Dalio: Cryptocurrencies would be a good asset if they can represent an inflation-resistant "store of purchasing power."

ChainCatcher news, billionaire hedge fund investor and founder of Bridgewater Associates, Ray Dalio, recently stated in an interview with CNBC: "Bitcoin will not be an effective currency, nor will it be an effective store of wealth, and it is certainly not an effective medium of exchange. The volatility of the crypto market is too high and is almost unrelated to any economic situation. But we all know that traditional currencies are in crisis in the world we live in."

Additionally, Ray Dalio proposed an idea he believes could be a viable option for cryptocurrency, which is a coin linked to inflation. Ray Dalio stated: "Everyone wants to maintain the purchasing power of their assets. If you create a coin that says 'this is the purchasing power I know I can store, and I can invest my money for a period of time, and then I can trade it anywhere,' I think that would be a good coin, similar to inflation-indexed bonds." (source link)