Billionaire hedge fund manager Ray Dalio believes a debt crisis is imminent in major economies, advocating for 'hard money' assets like Bitcoin and gold. Speaking at Abu Dhabi Finance Week, Dalio expressed his intention to move away from bonds and debt due to unsustainable debt levels in the U.S. and China. High inflation rates in various countries have diminished the value of traditional currencies, while Bitcoin, with its limited supply, surged to over $100,000 before stabilizing around $98,000. Similarly, gold prices have soared to record highs, reaching $2,697 per ounce. Dalio, with a net worth of $14 billion, emphasized the importance of considering global forces like debt, politics, geopolitics, climate change, and technology. Despite his previous skepticism towards Bitcoin, he acknowledged the potential of digital currencies in addressing economic challenges. Read more AI-generated news on: https://app.chaingpt.org/news

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