Billionaire Ray Dalio Says Bitcoin Is Gaining Trust As Global Currency

Key Insights:

• Ray Dalio labels Bitcoin as hard money, joining gold and silver.
• Michael Saylor urges Apple to buy Bitcoin amid stock buyback critique.
• Peter Brandt warns of a potential Bitcoin price drop based on chart patterns.

Ray Dalio, a prominent hedge fund manager, has recently praised Bitcoin. The cryptocurrency continues to gain ground in the global financial landscape.

Dalio believes that Bitcoin’s characteristics align it with “hard money,” joining the ranks of precious metals like gold and silver. His endorsement comes as Bitcoin gains attention for its fixed supply and resilience amid global economic uncertainty.

Ray Dalio views BTC as an asset with the potential to reshape money. However, some experts, including trader Peter Brandt, are expressing caution. They point to technical market indicators as reasons for concern.

Bitcoin: A New Form of Hard Money

In the context of money, Dalio says that Bitcoin is different because it has only 21 million coins in the market. For a long time, he has maintained that for an asset to fall into the category of hard money, it must not have an easily managed quantity.

Bitcoin, with its strictly capped supply, fits this definition. BTC can now be used as a store of value and is experiencing wider use, which could make it a more standard way to exchange money.

Bitcoin’s success is commonly viewed as a test of the existing financial institutions. Many now view Bitcoin as a useful tool for storing wealth. Unlike traditional currencies, it is less affected by inflation driven by government policies.

For this reason, Dalio places Bitcoin in the same category as gold. It has always been believed to hold value over time.

Apple Should Buy Bitcoin

Meanwhile, Apple Inc. has come under fire in the corporate world for its $110 Billion stock buyback program. This began last year. Despite the effort to boost its stock price by reducing outstanding shares, Apple’s stock has suffered a 17% decline year-to-date.

Notably, the decline in Apple’s stock has drawn criticism from prominent figures like TV personality Jim Cramer. He suggested that the company abandon the buyback initiative or rethink its approach.

Michael Saylor, chairman of MicroStrategy, suggested that Apple buy Bitcoin instead of repurchasing its shares. He shared this opinion on social media, responding to concerns about Apple’s stock buyback strategy.

People were increasingly adopting BTC to safeguard their savings. They saw it as a way to protect their money from inflation.

Some investors now see Bitcoin as a more reliable long-term strategy than stock buybacks. They believe it offers better protection against future market uncertainties.

Bitcoin Price Could Fall in the Future

Brandt also notes that Ethereum‘s current price movements resemble Bitcoin’s in 2022. This similarity raises concerns about potential market declines.

Analyst Peter Brandt warns that BTC prices may experience a significant drop. He points to a Double Top chart pattern as a sign of a bearish reversal.

Bitcoin peaked around $108,000 in December 2024 and January 2025 but fell below $100,000. The chart analysis created by Brandt indicates that Bitcoin could undergo a significant drop soon.

He referred to the price rise that began last April and continued through May. At that time, Bitcoin hit a new peak of $112,000. Still, the development of another peak on this price point causes him to believe in the possibility of a price reversal.

Peter Brandt notes that the 9-period Exponential Moving Average has dropped below the 21-period EMA. This crossover is often linked to continued negative trends in the market. Brandt believes these signs could push Bitcoin’s price down by 75%, leaving it around $27,298.

Disclaimer

In this article, the views and opinions stated by the author or any people named are for informational purposes only. And they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.