BlockBeats News, October 17th: Ray Dalio, founder of Bridgewater Associates, compared Bitcoin and stablecoins in a recent interview with Caixin, analyzing their respective characteristics and roles in investment portfolios. He indicated that he has held a small amount of Bitcoin for years, and the investment proportion has not changed. He views Bitcoin as a diversification asset relative to gold. However, Bitcoin also has its drawbacks, as central banks around the world will not hold Bitcoin.
Ray Dalio further stated that stablecoins are not a good wealth storage method. Their essence is to be able to be exchanged for the corresponding currency and cannot generate interest. Therefore, from a financial perspective, holding stablecoins is not as good as holding interest-bearing fiat assets. The advantage of stablecoins lies in their global universality, akin to a convenient trading settlement system. Thus, they are suitable for those who do not care about interest. Regarding whether stablecoins can solve the U.S. Treasury bond issue, he believes that if stablecoin buyers themselves hold U.S. Treasury bonds, it is equivalent to transferring the Treasury bonds from one pocket to another. Whether it can create additional demand for U.S. Treasury bonds remains to be seen.
