Investors should put 1% of their portfolio into Bitcoin; Billionaire Ray Dalio recommends.
Bitcoin’s value may have fallen, but its long-term potential is undeniable. That’s Ray Dalio’s assessment of the cryptocurrency king.
In an interview with The Investors Podcast, he said this. Dalio listed three reasons why he thinks Bitcoin is amazing, each in keeping with his positive outlook.
Its popularity stems from a number of factors, among them the fact that it has never been hacked and its status as the top cryptocurrency. Bill Miller, a fellow billionaire, argues that investors should have 1% to 2% of their portfolio invested in BTC.
As he sees it, In comparison, the value of gold that isn’t stored by central banks and isn’t used for jewelry is valued at around $5 trillion. To me, inflation-hedging investments are likely to perform better in the long run than non-inflation-hedging assets.
The hedge fund manager is a big fan of Bitcoin. In light of the rapid growth of Bitcoin, he speculated that the market capitalization of gold could be threatened.
However, he is not the only one who believes the asset will rise in value. El Salvador’s president, Nayib Bukele, projected earlier this year that Bitcoin would hit $100,000 by the end of the year. This year, whales have been very active in purchasing the dip.
In the span of 24 hours, Bitcoin lost more than 7%
Investors, on the other hand, remain concerned about Bitcoin’s price movement. The coin’s value has dropped by almost 20% in the last 90 days, and it doesn’t look like that will reverse any time soon.
It has lost more than 7% of its value in the last 24 hours and currently trades below $41,858 , a new 30-day low is possible if the current trend continues.
Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.