Ray Dalio has always loved a good macro plot, but this time he kept it strictly metal. Last week on X, the founder of Bridgewater Associates, argued that gold isn’t just a shiny relic; it’s the single safest form of money, with a track record that leaves modern fiat in the dust.
His reasoning? Gold has weathered thousands of years and every currency experiment, from hard-asset backing to the era of infinite-print fiat. All other monies come and go; gold just watches the parade (and sometimes cashes in while the confetti settles).
Gold, on the other hand, isn’t at risk of being devalued or confiscated. It doesn’t rely on anyone else’s promise, and can’t be frozen by any central bank cyber-wizard. You actually get to hold it, making it the go-to in times of crisis, inflation, or government asset grabs.
Dalio points out that gold only lags when paper money pays more interest than its underlying decline. Otherwise, timing the market is “a fool’s errand.” Instead, hold gold as your insurance against system breakdowns, wars, and runaway spending sprees. He recommends a portfolio allocation of 5-15% in gold depending on your risk tolerance.
Here’s the kicker: despite Dalio’s history of calling Bitcoin “digital gold” and a valuable hedge, he didn’t bring it up a single time in his recent arguments for gold. Maybe it’s a tactical omission; maybe he’s focused on real-world crisis insurance. Whatever the case, gold remains his ultimate safe haven, even as the crowd keeps asking about Bitcoin.
So as the fiscal time bomb ticks and gold spikes past $4,000 an ounce, the message of Ray Dalio is clear: gold is still the last man standing… and Bitcoin is waving from the sidelines, waiting for its next big mention.
