Overview
- Dalio, who posted on X on Monday, May 11, said Bitcoin lacks privacy because transactions on its public ledger can be monitored and potentially controlled, which he argues keeps central banks from holding it.
- He added that Bitcoin often moves with big tech shares, pointing to TradingView data showing a recent 90‑day correlation near 0.89 with the Nasdaq, a pattern that undercuts claims it holds up independently during market stress.
- Dalio also called Bitcoin’s market smaller and easier to influence than gold, which he described as more widely held and still central to the global financial system.
- Michael Saylor countered that Bitcoin’s transparency is a feature because anyone can verify holdings, calling it usable as global collateral and noting the asset has outperformed gold since his firm adopted a Bitcoin standard in 2020.
- Coverage highlighted rising interest in privacy coins such as Zcash, which has surged since early 2025, and noted that even with steps like a U.S. strategic Bitcoin reserve in 2025, central‑bank exposure remains limited, with Bitwise’s Matt Hougan framing Dalio’s concerns as an investment opportunity.