Ray Dalio’s Bitcoin Reserve Currency Warning Sparks Crypto Debate
Bridgewater founder drops bombshell on Bitcoin's global ambitions
The Institutional Perspective
Ray Dalio just threw cold water on Bitcoin's central banking aspirations—claiming the digital asset can't serve as national reserve currency material. The hedge fund billionaire's skepticism cuts through the crypto euphoria like a regulatory hammer.
Market Realities vs. Digital Dreams
Volatility remains Bitcoin's Achilles heel for institutional adoption. While crypto maximalists champion decentralization, traditional finance titans keep pointing to wild price swings that make treasury managers sweat. Another case of old money not understanding new money—or maybe they understand the risks too well.
The Sovereignty Question
Nations aren't ready to bet their reserves on code-based assets. Central banks prefer control over their monetary destiny—even if that means printing their way to stability. Because nothing says 'stable store of value' like unlimited fiat printing privileges.
Digital gold or fool's gold? The debate rages while traditional finance keeps collecting their 2-and-20 whether markets rise or fall.
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September’s jobs report showed nonfarm payrolls rising by 119,000, beating the consensus estimate of 50,000. However, August’s nonfarm payrolls were revised from 22,000 additions to a loss of 4,000.
September’s Jobs Report Outweighs Nvidia’s Strong Quarter
Furthermore, the unemployment rate now stands at 4.4%, rising from 4.3% in August and registering the highest level since October 2021.
“September’s jobs report shows the labor market still had resilience before the shutdown, beating payroll expectations, but the picture remains muddy with August jobs revised to a job loss and the unemployment rate increasing,” said Glassdoor Chief Economist Daniel Zhao.
A weaker labor market supports the rationale for the Fed to cut rates, with the odds of a 25 bps reduction at the December 9-10 Federal Open Market Committee (FOMC) meeting rising to 37.6% from 30.1% a day ago on CME’s FedWatch tool.
