Bitcoin does have some potential, but its numerous problems put an end to the possibility of pushing gold. Ray Dalio, a well-known American investor, creator of Bridgewater Associates, is sure of this.

As he told the Economic Times, BTC and gold undeniably have some things in common, such as a limited maximum reserve. At the same time, it is hard to imagine that central banks around the world would start using bitcoin as a reserve asset.

As the main obstacles preventing the first cryptocurrency from being used as a central bank reserve, Dalio cited the lack of transaction privacy, and the ability to cancel transfers. At the same time, the investor did not explain how the asset could be controlled. In addition, bitcoin is popular in the criminal world, which, according to the businessman, also does not play into his hands.

Despite his verdict, the investor acknowledged that the industry is still developing and that in 5-10 years, the situation may change dramatically. For now, gold is much better than BTC, but the latter can be actively used to diversify investment portfolios, Dalio concluded.