According to Foresight News , Ray Dalio, founder of Bridgewater Associates, posted a tweet titled "The Financial Times mischaracterized my remarks." Regarding the part about cryptocurrencies and the US dollar, Ray Dalio responded in an interview as follows: When asked, "Do you think deregulation poses a risk to the US dollar's reserve currency status?" Ray Dalio said, "No, but I do think the bad debt situation of the US dollar and other reserve currency governments poses a threat to their attractiveness as reserve currencies and means of storing wealth, which is why the prices of gold and cryptocurrencies have risen."
When asked, “Is there a potential systemic risk from stablecoins’ exposure to U.S. Treasuries?” Ray Dalio said, “I don’t think so. However, I think the decline in the real purchasing power of U.S. Treasuries is a real risk. If stablecoins are well regulated, this should not pose any systemic risk.”
When asked, “Can cryptocurrencies truly replace the dollar, or do they pose entirely different dangers?”, Ray Dalio stated, “Cryptocurrencies are now an alternative currency with a limited supply, so all else being equal, if the dollar money supply increases and/or demand declines, cryptocurrencies are likely to become an attractive alternative. I believe that most fiat currencies, especially those that are heavily indebted, will struggle to effectively store wealth and their value will decline relative to hard currencies. This happened between 1930 and 1940 and again between 1970 and 1980.”
