Bridgewater Associates founder: US dollar debt crisis is one of the factors driving up gold and cryptocurrency prices

According to Huoxun Finance, on September 3rd, Bridgewater Associates founder Ray Dalio stated in a post on the X platform that he believes deregulation of cryptocurrencies poses no risk to the US dollar's reserve currency status. However, he does believe that the debt distress of the US dollar and other reserve currency-issuing governments threatens their appeal as reserve currencies and storeholds of wealth, which is one of the factors driving the prices of gold and cryptocurrencies. He also questioned whether stablecoins pose a potential systemic risk to US Treasuries, stating, "I believe the real risk is the decline in the actual purchasing power of US Treasuries. If stablecoins are well regulated, this should not pose any systemic risk." Furthermore, Dalio stated that cryptocurrencies are now alternative currencies with limited supply; therefore, all else being equal, if the US dollar supply increases and/or demand for the US dollar decreases, cryptocurrencies are likely to become attractive alternatives. He believes that most fiat currencies, especially those with large debt loads, will face problems as effective stores of wealth and will depreciate relative to hard currencies.