- Ray Dalio keeps roughly 1% of his portfolio in Bitcoin while favoring gold.
- He views Bitcoin as hard money but sees higher long-term risks than gold.
- Dalio cited quantum computing, regulation and central bank adoption as concerns.
Bridgewater founder Ray Dalio said he keeps about 1% of his investment portfolio in Bitcoin while favoring gold for most of his hard-money allocation. Speaking on “The Diary of a CEO” podcast on July 30, Dalio described Bitcoin as money that cannot be printed but said he continues preferring gold because of concerns over technology, government oversight, and central bank adoption.
Dalio Keeps Bitcoin Exposure Limited
According to Dalio, Bitcoin belongs in the category of assets that governments cannot create through monetary policy. However, he said only about 1% of his portfolio is allocated to the cryptocurrency.
He also suggested that many investors could hold between 5% and 15% of their portfolios in hard-money assets. Within that allocation, however, he said he would choose physical gold instead of Bitcoin.
Dalio explained that he values gold because investors can hold it directly. He also described it as a financial asset that does not depend on another party’s obligation.
Gold Preference Centers On Risk
Dalio said Bitcoin shares several characteristics with gold because neither asset can be printed. However, he argued that technological developments could create risks for the cryptocurrency over time.
He specifically pointed to quantum computing as one potential challenge. In addition, he said governments can monitor Bitcoin transactions and impose taxes or restrictions on digital assets.
According to Dalio, those factors make Bitcoin less attractive than physical gold during periods of monetary or geopolitical uncertainty.
Central Banks Remain Part Of His Argument
Dalio also argued that central banks are unlikely to hold significant Bitcoin reserves. He said monetary authorities generally prefer assets that allow private transactions and remain under their direct control.
To support that view, Dalio referenced Russia’s experience with international sanctions. He said other financial assets were frozen, while physical gold remained outside foreign control.
Dalio has previously disclosed a similar Bitcoin allocation, including during an interview in November 2025. On the latest podcast appearance, he repeated that Bitcoin remains part of his portfolio. However, he maintained that gold remains his preferred hard-money asset because of its historical role, physical ownership, and resistance to external control.
