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Ray Dalio made a mistake about the week to talk!
It turns out that Ray Dalio (the founder of Bridgewater Associates and one of the largest investors in the world) went on to say in a podcast that we should stop comparing Bitcoin to gold. He said there is only one gold because central banks back it, while Bitcoin lacks privacy and fears quantum computing.
But look at the irony: the market left him in a bad position the very same day!
Just when he was saying that, gold got a scare and fell 3% ($168 less), while Bitcoin stood firm like an oak, dropping only 0.7%. In the midst of tension between the U.S. and Iran, the asset that was supposed to protect us (gold) suffered the most.
What does this tell us?
That neither gold nor Bitcoin are perfect, but this week Bitcoin has proven to be more resilient and less volatile in the midst of a crisis. Dalio says he prefers gold, but he still has his 1% of Bitcoin saved just in case! In the end, he knows that the world order is changing and no one wants to be left out.
My usual advice: Don't just follow what the tough guys say, look at the facts. Tranquility comes from understanding that the world is evolving and we are in the front row of that change. 🍀
If even the greats like Dalio are contradicted by the market, just imagine how important it is to take one day at a time and with our own strategy. Patience and conviction!
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