Ray Dalio, founder of Bridgewater Associates, recommended allocating 15% of investment portfolios to Bitcoin or gold during a July 2025 appearance on CNBC's Master Investor Podcast, citing severe risks of fiat currency devaluation. He warned of a $37 trillion U.S. fiscal shortfall and projected $12 trillion in new debt issuance within the next year, which could destabilize global markets.
Dalio characterized Bitcoin and gold as 'hard money' assets essential for hedging against sovereign debt risks and central bank policies. While acknowledging gold's centuries-long reliability, he highlighted Bitcoin's fixed 21-million supply cap and decentralization as key inflation-resistant attributes. However, he noted regulatory uncertainties and central bank resistance as adoption barriers for Bitcoin.
The recommendation draws parallels to 2020-2021 market surges following similar institutional endorsements. Dalio specifically stated: "If you were neutral on everything and optimizing your portfolio for the best return-to-risk ratio, you would have about 15% of your money in gold or Bitcoin." Though Bridgewater hasn't formally adopted this strategy, Dalio's stance emphasizes strategic diversification amid mounting economic instability.