Bridgewater founder: Stablecoins are not a good store of wealth, and I have held a small amount of BTC for many years

ChainCatcher news, Ray Dalio, the founder of Bridgewater Associates, analyzed the characteristics of Bitcoin and stablecoins and their roles in investment portfolios in a recent interview with Caixin. He stated that he has held a small portion of Bitcoin for many years, and the investment ratio has not changed, viewing Bitcoin as a diversified asset relative to gold. However, he also pointed out the drawbacks of Bitcoin, noting that central banks around the world 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 not as advantageous as 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 equivalent to transferring Treasuries from one pocket to another. Whether this can create new demand for Treasuries remains to be seen.