Founder of Bridgewater Associates: $39 trillion in debt may trigger a crisis, Wall Street bets are shifting funds from gold to Bitcoin

ME News Report, May 9 (UTC+8), Bitcoin bulls add to the macro narrative again. Bridgewater founder Ray Dalio warns that the $39 trillion U.S. debt crisis could trigger a long-term devaluation or even collapse of the dollar, while JPMorgan analysts believe the market is experiencing a currency devaluation rotation from gold to Bitcoin. Dalio states that the U.S. currently spends about $7 trillion annually, with income of only around $5 trillion, and that long-term fiscal deficits and debt expansion are approaching historically dangerous levels. He believes that during such periods, fiat currencies tend to depreciate continuously, while gold benefits. Meanwhile, JPMorgan analyst Nikolaos Panigirtzoglou points out that as the Iran conflict escalates, Bitcoin ETF fund inflows have continued to outpace gold ETF inflows, with some funds viewing Bitcoin as digital gold and a hedge against dollar devaluation. The report mentions that since the outbreak of the U.S.-Iran conflict, Bitcoin’s price has increased by approximately 30%, although it remains below the historical high of $126k in 2025. Well-known investors such as Stanley Druckenmiller and Elon Musk have recently expressed concerns about the long-term reserve currency status of the dollar. (Source: ChainCatcher)