Ray Dalio, the founder of the world’s largest hedge fund "Bridgewater Associates", encouraged investors to allocate at least 2% of their funds to Bitcoin.
Ray Dalio told reporters at The Investors Podcast that adding a small percentage of Bitcoin, 1 or 2% to be exact, into your investment portfolio is good practice in the modern-day environment.
Likewise, he listed the main reasons why Bitcoin is a great asset to have. Firstly, he said the network that BTC runs on has never been hacked, and it doesn’t have any competitors, even in the crypto realm.
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Also, he mentioned that the acquisitions of BTC have risen quite heavily, and the transaction volumes may overtake the market cap of gold, potentially making it a more valuable asset:
"Bitcoin now is worth about one-trillion dollars and the total crypto is worth, cryptocurrencies are worth about two-and-a-quarter-trillion dollars… Whereas gold, that is not held by central banks and not used for jewelry, is worth about five-trillion."
With Bitcoin currently down by 7.03% over the last 24 hours, it seems that more people are looking to take advantage of the price drop. According to data by Bitcoinity, BTC has reached 50.8k transactions today, which is its highest trading volume over the last 30 days.