While the world continues to bank on the night of Bitcoin and how it can refine the financial domain for years to come, expert Ray Dalio believes BTC comes with its set of problems and issues. Dalio, in his latest podcast with Zerodha founder Nitin Kamath, shared how he does not think central banks would explore Bitcoin due to its long set of “flaws” that the asset comes pre-programmed with.

Also Read: Dalio Warns: Bitcoin Isn’t Built for Major Reserve Status

Bitcoin Won’t Get Attention From The Banks: Dalio

Former CEO of Bridgewater Associates, Ray Dalio is back with his stark opinions, this time sharing his insights on Bitcoin. In his recent podcast with Kamath, Dalio added how Bitcoin lacks the flow needed to become a leading currency alternative. Dalio shared how the asset will be unlikely to be held by central banks due to a number of problems it has, including interference and monitoring of BTC transactions by the government.

“Bitcoin is limited in supply and its perception of money. It is a form of money, and it’s perceived as money, as a storehold of wealth. That is unlikely to be significantly held by central banks and many others because of a number of problems it has. Transactions could all be followed in Bitcoin. One can monitor what the transactions are. Governments can monitor what the transactions are, and governments can interfere with those transactions.”

Dalio Extends Support to This One Asset

Dalio later shared how he believes gold is the only asset that is immune to the onslaught of times and depreciating tendencies. He later shared how Bitcoin is simply an asset that cannot make the cut when it comes to becoming a leading asset that central banks could depend on.

“Just like we talked about earlier when we talked about, you know. Gold being the only asset that you can have that they can’t mess with and control, you’ve got it, okay? That’s not true of Bitcoin. And then there are other issues in Bitcoin, like if we talked about the possibility. Would somebody make synthetic gold like they would make synthetic diamonds as a risk? Well, in terms of Bitcoin being cracked, broken, and controlled, it has those issues. Okay, so that’s how I look at Bitcoin.”

Also Read: Gold Should Be 10–15% of Portfolios, Dalio Urges Investors