While billionaire Ray Dalio believes that fiat is in jeopardy, he also thinks that neither (BTC) nor stablecoins are the answer. In response, crypto community members took to Twitter to express their opinion on the topic.
In a recent interview on CNBC’s Squawk, Dalio shared his takes on Bitcoin being a potential solution to the problems with fiat currency. The billionaire argued that it would not be effective as a store holder of wealth and a medium of exchange. Dalio also highlighted that stablecoins are a replica of state-backed currencies and would also not be an effective form of money.