- Ray Dalio said BTC still has big drawbacks that keep it from being a real global reserve.
- He believes Bitcoin’s price swings make it hard for central banks to own in large amounts.
- Michael Saylor responded, calling gold “analog capital” and Bitcoin “digital capital”.
A new clash over Bitcoin’s place in global finance flared up this week after billionaire Ray Dalio cast doubt on its status as a safe-haven asset, quickly drawing a sharp reply from Michael Saylor.
Dalio said Bitcoin still has big drawbacks that keep it from being a real global reserve or safe‑haven asset.
The investor pointed out that Bitcoin moves in sync with the Nasdaq and other risky assets when markets drop. In his opinion, Bitcoin’s price swings make it hard for central banks to own in large amounts, and its $1.6 trillion market cap is tiny next to gold.
Additionally, Dalio noted that blockchain’s transparency could be a turnoff for governments that want financial privacy.
Dalio’s remarks line up with what he’s been saying for years: that Bitcoin might be a decent alternative asset, but it hasn’t replaced gold as the world’s go-to store of value.
Michael Saylor Responds
The longtime Bitcoin advocate and co-founder of Strategy, Michael Saylor, quickly pushed back against Dalio’s argument. He called gold “analog capital” and Bitcoin “digital capital”.
Saylor said Bitcoin’s transparency isn’t a flaw at all, but a major strength because it lets users verify ownership, use crypto as clear collateral, move value anywhere, and settle payments instantly.
He also pointed to Bitcoin’s long‑term track record, noting that even with wild price swings, BTC has crushed gold’s performance since 2020. According to him, Bitcoin just fits better than a physical commodity like gold for the digital age.
Saylor also recently talked about how his company could sell a little Bitcoin to cover STRC dividends, but only if it has to. The main plan remains to buy many more Bitcoins than the company ever sells. So if it sells 1 BTC, Strategy might buy 10 or 20 more on top of that.
As for Bitcoin itself, the cryptocurrency king has been hovering around $80,500 for about a week now. Compared to the end of April, when the price was roughly $76,000, it has, however, been recording an almost constant increase since the start of May.
In the last 30 days, Bitcoin’s price has increased by approximately 12%.
Related: Ray Dalio Explains the Complexity Surrounding the U.S. Economic Situation
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