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In a recent interview, billionaire Ray Dalio highlighted the weakening status of the U.S. Dollar as a reserve currency, noting that this trend is accelerating adoption of Bitcoin, other cryptocurrencies, and Gold as alternative stores of value. Dalio pointed to the growth of corporate crypto treasuries and Gold’s recent rally to $3,600 as indicators of a clear shift away from the USD.
Ray Dalio Says Bitcoin, Crypto Are Alternative Currencies to US Dollar
Billionaire investor Ray Dalio has expressed concerns over the long-term stability of the U.S. Dollar and other major reserve currencies. During his recent interview with the Financial Times, Dalio cited the rising debt burdens that threaten the USD and raise the appeal of digital assets as “reserve currencies and storeholds of wealth”.
Dalio noted that these structural issues have contributed to the ongoing rally in gold and cryptocurrencies. The billionaire investors further addressed concerns surrounding USD-pegged stablecoins, currently in the limelight with the passing of the GENIUS Stablcoin Bill in June.
Ray Dalio dismissed the notion that stablecoins’ exposure to U.S. Treasuries poses a major threat, provided they are well-regulated. However, he flagged the declining real purchasing power of Treasuries as a genuine concern for investors.
On the future role of cryptocurrencies, Dalio stated that Bitcoin and digital assets are emerging as viable alternatives to fiat currencies due to their limited supply. “If dollar supply rises and demand falls, crypto becomes an attractive alternative,” said Dalio.
Yellow Metal Gold Shines
Yellow metal Gold is making major inroads these days in the market, shooting past $3,600/oz, for the very first time in history. Since the beginning of the year, Gold price is up by 33%, which is 3.5x the returns generated by S&P 500, during the same period.
With Fed rate cuts on the radar during the September 17 FOMC meeting, the macro situation looks complex, while the 30-Year Bond yield has now surged past 5.0%. The Kobeissi Letter noted that the Gold price has been rising in a straight line, sharing a strong correlation with the Japanese bond yields.
Source: The Kobeissi Letter
Some market experts continue to remain bullish on Gold for the long term. Popular analyst Benjamin Cowen stated: “Gold is now at $3500. I think it will go higher into EOY then get a 10-20% drop in 2026. Still long-term bullish on Gold”.
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Bhushan Akolkar
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.
He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
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