Ray Dalio, founder of Bridgewater Associates, announced his intention to invest in Bitcoin as a safeguard against an impending debt crisis. The billionaire shared his views at the Abu Dhabi Finance Week, as reported by South China Morning Post.

“I want to stay away from debt-based assets like bonds and hold some hard money, such as gold and Bitcoin,” Dalio stated during his speech at the event.

The investor highlighted that the national debts of the U.S., China, and other major economies—excluding Germany—have reached “unprecedented levels.” He believes these countries will face an inevitable debt crisis in the coming years, leading to a significant devaluation of fiat currencies.

Dalio pointed out that “money, debt, and the economy” are among the five major forces shaping the future. He also emphasized internal socio-economic disparities within nations and geopolitical tensions, such as the ongoing conflict between the U.S. and China, as critical factors influencing global trends.

In 2022, Dalio described Bitcoin as a good hedge against inflation but not a full-fledged alternative to gold. In February 2023, he expressed skepticism about Bitcoin’s ability to replace fiat currencies as a store of value and medium of exchange. Later, he admitted to holding Bitcoin but stated that he still prefers gold.

It is worth noting that during his presidential campaign, U.S. President-elect Donald Trump suggested that Bitcoin could play a role in addressing the national debt crisis.