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The founder of the largest hedge fund firm in the world is sounding the alarm on the future of the US dollar.

Ray Dalio, founder and co-chief investment officer of Bridgewater Associates, says that just like empires of the past, the United States is showing signs of decline and faces major threats to its currency.

In an interview with MarketWatch, Dalio outlines three major issues threatening America and the US dollar – money and credit cycle problem, a wealth and values gap problem, and the emerging power of China.

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He said that the US will need to be massively re-engineered in order to avoid losing its reserve currency status.

“But if we don’t do this engineering well, we’re going to spend in an unlimited way and deal with that by creating debt that won’t ever be paid back, and we will risk losing the reserve currency status of the dollar.”

Despite his concerns about the future of the dollar, Dalio is not bullish on Bitcoin. In an interview at the World Economic Forum in Davos, Switzerland, he warned against BTC, saying it doesn’t serve the two main purposes of money.

“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 is far more bullish on gold and believes the precious metal could serve as a hedge against a potential dollar downfall.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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