He added that the crypto craze is overblown given the size of the asset class. “Too much attention has been spent on crypto,” he said.
But, Dalio predicted that people might consider digital assets for peer-to-peer transactions or as a store of wealth. Traditional currencies would face more competition from digital versions and other rivals, he said.
“The most important thing you could do is not be in cash,” he said, highlighting the threats of inflation and taxes. “Particularly now when there’s negative real rates.”
Dalio, who closely studies economic and social history, issued a dire prediction about the next US presidential race in 2024.
“There is a reasonable chance that neither party will accept losing the elections,” he said. “A type of civil war of sorts could develop,” he continued, adding that he wasn’t exaggerating.
