Ray Dalio's cold water: The dream of Bitcoin as a reserve currency should be awakened.
What's going on?
Ray Dalio, the founder of Bridgewater, has cooled the market with his remarks today.
His view is clear: Bitcoin will not become a central bank reserve currency. The reasons are not new — excessive volatility, an immature regulatory framework, and a lack of sovereign credit backing. In his eyes, BTC is at most an alternative option in institutional asset allocation. Challenging the dollar's hegemony? Unrealistic.
Saying this at a time when MiCA has just taken effect and compliance thresholds have been significantly raised carries deep meaning.
Institutional money will continue to flow in, but don't expect them to treat BTC as a substitute for gold. Positioning determines the valuation ceiling, and Dalio's cold water splash is quite timely.
