Billionaire investor Ray Dalio has stated that he expects Bitcoin to ‘do relatively well’ as governments around the world grapple with rising debt and large fiscal deficits. The legendary investor, who still prefers gold as a hedge, highlighted that the United States, United Kingdom, European Union, China and Japan are approaching a critical stage of the long-term debt cycle. Dalio revealed he has owned Bitcoin since May 2021, with BTC representing roughly 1% of his portfolio. However, he warned that governments could attempt to suppress Bitcoin if it became too successful.
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