The first cryptocurrency actually acts as an alternative to gold for the younger generation. Blockchain revolution is inevitable, but some governments may outlaw it. This was stated by billionaire Ray Dalio, writes Forklog.

In an interview with MarketWatch, the founder of Bridgewater Associates urged not to keep only cash, which is “eaten up by inflation,” and to form an “all-weather” portfolio for backup. It should be diversified by currencies, asset classes, countries and industries. Bitcoin may occupy a certain part of such a portfolio.

Dalio compared it to gold, a “blue chip” relative to fiat. The billionaire doubted that the authorities of all countries in the world will eventually ban the first cryptocurrency. He found no reason to expect its inclusion as a reserve asset by central banks and large corporations. Dalio recalled that for diversification, he transferred part of his assets into bitcoin because of its “presumptive value.”

 During the conversation, the billionaire expressed fears about a possible economic downturn on the background of tightening the monetary policy of the Federal Reserve System. According to the expert, this could happen if the interest rate rises above market expectations.