Ray Dalio: ‘There is only one gold.’ How this proven diversifier can protect you from market volatility

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For years, investors person argued implicit whether bitcoin — often dubbed “digital gold” — could really regenerate the precious metallic arsenic the world’s go-to safe-haven plus successful times of uncertainty. With cryptocurrencies gaining traction among investors and institutions alike, the examination has go harder to ignore.

But billionaire capitalist Ray Dalio, who is besides the laminitis of the world’s largest hedge fund, Bridgewater Associates, isn’t convinced.

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Speaking astir the golden vs. bitcoin statement connected the All In Podcast, Dalio said plainly that “there is lone 1 gold,” emphasizing that the centuries-old store of worth inactive stands successful a class of its ain (1).

Dalio isn’t anti-crypto — he’s said helium owns a tiny percent of bitcoin — astir 1% of his portfolio (2). But helium has argued that golden posses unsocial advantages arsenic a hedge against inflation, indebtedness and geopolitical shocks.

“I’m powerfully preferring golden to bitcoin,” Dalio said successful October past twelvemonth connected The Master Investor Podcast (3).

Dalio’s informing arrives astatine a clip erstwhile planetary markets are facing an uncomfortable operation of rising debt, geopolitical friction and uncertainty astir the aboriginal of accepted currencies.

Typically, the warfare successful Iran would nonstop investors moving to this shining harmless haven, but concerns implicit the benefits of liquidity vs. golden arsenic a store of worth person stemmed the accustomed surge, starring to pullbacks. However, President Donald Trump’s Mar. 23 announcement that the U.S. would not onslaught Iranian powerfulness plants resulted successful a flimsy correction, according to Reuters (4).

But if Dalio is proven close successful the end, investors whitethorn request to rethink however they’re protecting their wealth.

Gold’s historical 2025 rally didn’t hap successful a vacuum.

The metallic has historically performed good during periods of economical oregon geopolitical accent — and the past twelvemonth delivered plentifulness of both.

Those forces helped propel golden to grounds highs done 2025 and into 2026.

By aboriginal January, the metallic had surged past $5,000 per ounce, marking 1 of the strongest bull runs successful its history. It remains to beryllium seen if the precious yellowish metallic volition instrumentality to erstwhile highs, but anterior to the caller warfare successful the Middle East, JPMorgan Chase anticipated that golden would onslaught a precocious of $6,300 per ounce by the extremity of 2026 (5).