Ray Dalio: Bitcoin is not suitable as a long-term store of value or a safe-haven asset.

PANews reported on March 4th, citing Cointelegraph, that billionaire investor Ray Dalio, in an All-In podcast, warned against the notion of Bitcoin as a long-term store of value and a safe-haven asset, citing concerns about its lack of central bank support and potential privacy limitations and quantum computing threats. Dalio dismissed the idea that Bitcoin could serve as digital gold, stating that "there is only one gold," and emphasizing that gold is the second-largest reserve currency held by central banks and is the most mature form of money. He expressed his incomprehension of why central banks would hold Bitcoin for the long term.

Dalio has previously acknowledged that Bitcoin possesses characteristics of hard currency, but pointed out its high correlation with tech stocks. He also expressed concern about Bitcoin's lack of privacy, stating that "any transaction can be monitored," and warned that quantum computing could threaten the internet.