Ray Dalio says Bitcoin fails as a safe haven due to privacy, volatility, and ties to tech stocks.

Ray Dalio, founder of Bridgewater Associates, criticized Bitcoin for not acting as a safe-haven asset during market stress, citing its lack of privacy, strong correlation with tech stocks, and smaller size compared to gold. He noted that Bitcoin transactions are transparent and can be monitored, making it less attractive as a reserve asset for central banks. Dalio also pointed out that investors often sell Bitcoin to raise liquidity in tough times, unlike gold which remains deeply established and widely held. Michael Saylor countered by calling Bitcoin "digital capital" and praised its transparency and performance since 2020, highlighting the ongoing debate between viewing Bitcoin as a risk asset or a long-term monetary asset.