Ray Dalio says Bitcoin fails as a safe-haven asset compared to gold due to traceability and volatility.

Ray Dalio, founder of Bridgewater Associates, argues that Bitcoin does not serve as a reliable safe-haven asset like gold during financial uncertainty. He highlights Bitcoin's transparent blockchain, which allows transactions to be traced, making it less attractive for governments and central banks as a reserve asset. Dalio also notes that Bitcoin tends to be sold off during market stress, behaving more like a risky tech stock, unlike gold which has historically preserved value in downturns. Despite his skepticism, Dalio has not dismissed cryptocurrencies entirely and still holds some crypto assets, favoring gold for its stability and privacy.