Deep Tide TechFlow news. May 12, according to CoinDesk, billionaire hedge fund manager Ray Dalio said that Bitcoin lacks privacy protection, meaning transactions can be monitored and potentially controlled—this is the main reason central banks in various countries are reluctant to hold Bitcoin. Dalio said that about 1% of his investment portfolio is allocated to Bitcoin, but he believes Bitcoin’s transparent ledger makes it difficult for it to become a reserve asset.

Dalio also pointed out that Bitcoin has a 90-day correlation coefficient of 0.89 with the Nasdaq index, and about 79% of its price volatility can be explained by the movements of technology stocks, which weakens its function as an independent store of value. In addition, Dalio believes that Bitcoin’s market size is still relatively smaller than gold and is more susceptible to influence, and that gold continues to play a more central role in the global system.