Ray Dalio says ‘there is only one gold’ even as bitcoin holds up better during Iran crisis
By Shaurya Malwa
Published on March 4, 2026.
Bridgewater Associates founder, Ray Dalio, has stated that investors should not compare bitcoin to gold, arguing that the largest cryptocurrency lacks central bank support, lacks privacy, and could pose long-term threats from quantum computing. The timing of these comments undermined Dalio's argument, as bitcoin fell just 0.7% to $68,700 just five days into the U.S.-Iran war. This is not the first time the two assets have been seen to diverge. Despite this, both bitcoin and gold have been volatile this week.
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