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'I don't understand why people are more inclined to go to bitcoin than gold,' says hedge fund billionaire Ray Dalio.
First of all, I don't intend to denigrate gold as many Bitcoiners do.
I'm a Bitcoiner, but I'm not going to lie to you: gold is still a great store of value.
It's been around for centuries, and it will be around for a while. Period.
Ray Dalio is 73 years old. He's a Baby Boomer.
It's no wonder to me that he loves gold so much. It's the reference store of value for his generation.
What he fails to understand is that the new generations are digital.
The world is changing and the new generations do not have the same vision as the Boomers.
The new generations recognize the virtues of gold but also know its shortcomings: storage problems, transportation, risks of confiscation, difficulty in verifying that it is gold ...
I'll stop here, but you've understood what these flaws are.
Bitcoin does not have these flaws.
Bitcoin is often called the digital gold, and not for nothing.
Bitcoin will take the place of gold as a store of value for future generations.
In addition to these qualities, Bitcoin brings many other things to the table, including the ability to use it for everyday payments via the Lightning Network.
In short, gold on steroids :).
In my book "The Truth About Bitcoin", I develop this idea around 3 points to explain why Bitcoin will become the standard for generations Z and Alpha.
Maybe Ray Dalio should read it ;).
“The Truth About Bitcoin: Everything you need to build your truth about Bitcoin and stop trusting others without verifying”
Let's finally go back to the last argument he highlighted a few weeks ago about Bitcoin and the cryptocurrency industry in general:
"It's a small asset class. We talk a lot more about it, but its size is about, you know, 30% of the size of Microsoft MSFT, and Microsoft is one stock among many stocks."
Ray Dalio feels that too much is being made of Bitcoin and cryptocurrencies given the capitalization of this market.
In a way, the numbers are there, there's no arguing with that.
But Ray Dalio pretends to understand that it's all about potential. Bitcoin has a much broader scope than Microsoft and the potential to change the world of the future for the better.
That's why it's so talked about, of course.
As for the fact that the market cap of the cryptocurrency industry is still so small, it should make you realize that all the warning messages from the powerful in the current system that cryptocurrency is likely to trigger the next big financial crisis are just lies aimed at denigrating the industry.
This article was published as an NFT on Mirror.
Announcements of the Upcoming Death of the King Dollar Are Exaggerated, but This List of Events Will Make You Realize That China Is at Work to Break the Hegemony of the USD.
It remains to be seen how America will react, and how this will benefit Bitcoin.
https://inbitcoinwetrust.substack.com/p/announcements-of-the-upcoming-death
