TL;DR
- Ray Dalio maintains only a 1% Bitcoin allocation in his portfolio.
- He doubts Bitcoin can become a major global reserve currency.
- Dalio cites traceability and quantum computing as key future risks.
Billionaire investor Ray Dalio revealed that he holds only a small percentage of Bitcoin in his portfolio, emphasizing caution despite the cryptocurrency’s growing adoption.
On November 20, Dalio, founder of Bridgewater Associates, stated on CNBC’s Squawk Box that he has maintained a 1% allocation to Bitcoin across his portfolios for years. “I have a small percentage of Bitcoin… I’ve had it forever, like 1% of my portfolios,” he said.
Bitcoin Faces Structural Hurdles, Says Dalio
Dalio highlighted that Bitcoin cannot realistically function as a global reserve currency due to structural and technical limitations. He argued that its transparency and traceability make it unsuitable as the foundation for global monetary reserves.
“It’s not going to be a reserve currency for major countries because it can be tracked,” Dalio said. He also pointed to long-term security risks, noting that advances in quantum computing could eventually threaten the network. “It could be conceivably, with quantum computing, controlled, hacked, and so on and so forth,” he added.
According to blockchain analytics firm Chainalysis, quantum computing developments could potentially crack Bitcoin’s cryptography within 10–15 years, posing a future security threat to the network.
Historically, Dalio has expressed skepticism toward Bitcoin. In 2021, he warned that governments could act against its adoption: “If it becomes really successful, they will kill it. And they have ways of killing it.” However, by late 2021 and into 2022, he acknowledged Bitcoin’s durability as adoption grew: “Bitcoin has proven itself. It hasn’t been hacked, it’s stood the test of time,” he said on the Lex Fridman Podcast.
Bridgewater Associates’ Massive Portfolio
Bridgewater Associates disclosed a $25.53 billion U.S. equity portfolio spanning more than 1,000 positions in its Q3 2025 filing with the U.S. SEC. Bitcoin remains a small fraction of this diverse portfolio, reflecting Dalio’s cautious but enduring exposure to the cryptocurrency.
Despite a modest allocation, Dalio’s comments underscore the structural challenges and potential risks Bitcoin faces, especially as technological and regulatory pressures evolve.
