Billionaire investor and founder of investment firm Bridgewater Associates Ray Dalio said in a recent interview that the Chinese yuan will become the world’s reserve currency sooner than most people expect.
Currently, the most popular reserve currency in the world is the US dollar, however, Ray Dalio is confident that Ray Dalio will change the situation in the next few years and the Chinese yuan may take this place.
The founder of the world’s largest hedge fund, Bridgewater Associates, said there will be many more yuan-denominated financial transactions in the world in the coming years. This will help the Chinese currency gain wider acceptance internationally, he said in an interview with CNBC Managing Asia.
We will remind, earlier it was reported that the Chinese government plans to launch the digital yuan as an alternative to Bitcoin, but when this will happen is still unclear. Ray Dalio believes that the digital yuan could become a very viable alternative to other cryptocurrencies for investment.
The billionaire recently stated that he prefers bitcoin over bonds, and added that bitcoin could suppress the financial control of states.