Ray Dalio explains why Bitcoin cannot displace gold as a primary store of value

Ray Dalio contends that Bitcoin cannot supplant gold as the world's main store of value, emphasizing gold's long-standing role in central bank reserves and its deeply entrenched market structure. He argues that Bitcoin currently trades more like a speculative risk asset, faces technological and privacy concerns, and lacks the institutional and historical backing that support gold's status. Dalio still sees Bitcoin as a complementary holding alongside gold within a diversified portfolio.