In a recent TED interview, Bridgewater Associates co-chairman and co-CIO, Ray Dalio, labeled cash as a risky place to park wealth, although he failed to mention Bitcoin (BTC) as an alternative.
"Do not think that cash is a safe investment," Dalio told TED interviewer Corey Hijam in an April 9 interview.
"Cash is a seductive investment because it doesn't have as much volatility, but it taxes you and your buying power about 2% a year," Dalio said of the U.S. dollar's stability, paired with its annual inflation rate.
Tough times lead a flight to cash
"Cash is almost always the worst investment," Dalio said. "You should think a little bit unconventionally," he said, mentioning a small gold allocation as a possibility, as well as noting the importance of diversification.
Dalio, however, failed to mention Bitcoin as an option surrounding these comments.
Dalio previously commented on Bitcoin
Dalio mentioned BTC earlier in 2020 during an interview with CNBC, in which he said Bitcoin hosted too much volatility to function as an adequate store of value.
"There are two purposes of money; a medium of exchange and storehold of wealth," the hedge fund manager said. "Bitcoin is not effective in either of those cases now."
Dalio highlighted Facebook's Libra as a more promising option. He also noted that big players, such as central banks, would more likely head for gold than Bitcoin.
Billionaire Chamath Palihapitiya also recently mentioned Bitcoin's volatility and current usage as ineffective, pointing toward the asset's potential adoption approximately 10 years from now, pending various circumstances.
Cointelegraph reached out to Dalio for additional comments, but received no response as of press time. This article will be updated accordingly should a response come in.