In a Twitter thread posted on Tuesday, Dalio stated he believed that Bitcoin (BTC) was not an effective medium of exchange nor a store of value due to its volatility. He also asserted that governments could outlaw crypto assets if they became a threat to fiat currencies. However, he also admitted he “might be missing something” and invited others to chime in with their explanations.
“I can’t imagine central banks, big Institutional investors, businesses or multinational companies using [Bitcoin],” said Dalio. “If I’m wrong about these things I would love to be corrected.”