At the World Economic Forum in Davos, Switzerland, Ray Dalio, founder of investment firm Bridgewater Associates said: “crash is trash.”

Dalio’s investment firm manages $160 billion warns against jumping into cash, saying “Get out of cash. There’s still a lot of money in cash.”

Dalio’s stance on cash isn’t new, previously in 2018, he said that investors were going to “feel pretty stupid” for holding cash and missing the stock market’s climb to record highs.

The honcho advises investors to diversify their portfolio by investing in technology disrupting companies and having a “certain amount of gold in your portfolio,” or “something that’s hard.”

However, Dalio has warned against Bitcoin which he said is still volatile and isn’t a medium of exchange or a store hold of wealth. He said,

“There’s two purposes of money, a medium of exchange and a store hold of wealth, and bitcoin is not effective in either of those cases now.”

Dalio clearly doesn’t believe in ‘Bitcoin is a digital gold’ narrative rather feels Facebook’s Libra has more potential. Dalio said:

“Libra or something which is as more stable value has got more potential.”

He said, central banks won’t be adding digital gold, Bitcoin to their reserves rather gold which is a tried and tested reserve currency for a thousand years.

What the flying f*ck Dalio,..Can you just say that you should buy some Bitcoin already? $BTC https://t.co/JOWEMPCRrR

— Cantering Clark (@CanteringClark) January 21, 2020

Dalio’s view of BTC remains the same from 2017 when he called Bitcoin a “bubble” and a “highly speculative” investment.

And he isn’t alone in seeing BTC this way. Billionaire Warren Buffett has called BTC “rat poison” while JPMorgan CEO Jamie Dimon has called the flagship cryptocurrency a “fraud.”

Despite these criticisms, however, Bitcoin has emerged as the best performing asset of the decade with 9,000,000 returns in the 2010s. A report from Bank of America also named the crypto asset as the best investment of the last decade in which if you had invested $1 in the beginning of 2019 would have now been worth over $90,000.

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