Billionaire investor Ray Dalio, founder of Bridgewater Associates, reiterated his cautious stance on Bitcoin this week, revealing that he holds only a small fraction of the cryptocurrency in his portfolio. 

Speaking on CNBC’s Squawk Box, Dalio said, “I have a small percentage of Bitcoin… I’ve had it forever, like 1% of my portfolios,” underscoring his committed and limited exposure to the asset.

Dalio, long known for his macroeconomic insights and somewhat dubious Bitcoin takes, emphasized that Bitcoin faces structural challenges that hinder its adoption as a global reserve currency. 

He pointed to Bitcoin’s transparency and traceability as major constraints, arguing that governments are unlikely to rely on a monetary system that is fully trackable.

“It’s not going to be a reserve currency for major countries because it can be tracked,” he said.

Bitcoin under threat?

In addition to regulatory hurdles, Dalio flagged potential long-term security risks. Advances in computing, particularly quantum technology, could one day threaten Bitcoin’s cryptographic foundation, Dalio contended.  

“It could be conceivably, with quantum computing, controlled, hacked, and so on and so forth,” he warned. 

Blockchain analytics firm Chainalysis estimates that quantum breakthroughs could jeopardize Bitcoin’s security within 10 to 15 years, highlighting the technical challenges the network faces.

Dalio has historically expressed skepticism about Bitcoin’s trajectory. In 2021, he cautioned that governments could intervene if the cryptocurrency became too widely adopted, saying, “If it becomes really successful, they will kill it. And they have ways of killing it.” 

Yet he has also acknowledged Bitcoin’s durability, noting in later interviews that it has “proven itself… it hasn’t been hacked, it’s stood the test of time.”

Bridgewater Associates’ Q3 2025 filings with the SEC reveal a massive $25.53 billion U.S. equity portfolio spanning more than 1,000 positions. 

While he has previously compared Bitcoin to digital gold, Dalio continues to advocate for traditional hedges such as gold, which he describes as an asset “you can hold, and you’re not dependent on someone to provide it.”

Dalio’s comments arrive amid market fear, as Bitcoin recently slipped below $86,000 following delayed U.S. employment data and broader macroeconomic pressures. Bitcoin recently hit all-time highs in October, but has since slipped 32%.

At the time of writing, bitcoin’s price is $86,521, per most recent Bitcoin Magazine Pro data.