Ray Dalio publishes rebuke of FT article, offers keen insights into crypto

Founder of Bridgewater Associates and hedge fund manager Ray Dalio published the full transcript of his written interview with Financial Times and accuses the outlet of mischaracterizing his statements.

In a recent X article, Ray Dalio accuses the outlet of publishing a “mischaracterizations of what I said” regarding the economic landscape in the United States. The hedge fund billionaire instead went ahead and published the full written interview he submitted to the outlet.

“For accuracy, I am providing the actual questions and answers here for you to read. I strive to be as accurate as I can be in a world full of harmful conflict and partisanship in which distortions and sensationalism are threats to everyone’s well-being,” said Dalio in his long-form post.

He alleged that the financial media outlet took what he said and politicized it to suit the narrative that was laid out in the article.

“To me, the greater risk is in not speaking up. If you want to see what I was asked and what I said, here it is,” he said before sharing the full transcript.

His QnA covers topics that were omitted from the article in its entirety, including an excerpt where he discusses cryptocurrency and where it stands in regards to the dollar’s domination.

Ray Dalio’s view on crypto and the dollar

When asked whether he sees deregulation as a risk for the dollar’s reserve status, Ray Dalio explained that high levels of debt can make fiat currencies less appealing for investors to store wealth. The fall of fiat currencies could push investors in the direction of alternative assets.

“I do see the dollar and the other reserve currency governments’ bad debt situations as threatening to their appeals as reserve currencies and storeholds of wealth, which is what has been contributing to the rises in gold and cryptocurrency prices,” said Dalio.

As of late, gold has reached a record high as demand shot up amid global economic uncertainty. The price of gold has gone up to $3,540 on Wednesday trading, it has continued its upward trend in the past week by nearly a third this year.

On the other hand, cryptocurrency has been on a steady rise as well. Ethereum (ETH) has been able to reach past the $4,000 threshold and Bitcoin (BTC) reached consecutive highs over a period of a few weeks. The crypto market cap has gone up by 0.4% in the past 24 hours, rising near $4 trillion.

On the subject of cryptocurrencies, when asked if crypto would one day replace the dollar or serve as a threat, Ray Dalio stated that if the supply of the dollar plummets then crypto would rise to the occasion.

“Crypto is now an alternative currency that has its supply limited, so, all things being equal, if the supply of dollar money rises and/or the demand for it falls, that would likely make crypto an attractive alternative currency,” said Dalio.