American billionaire and hedge fund manager Ray Dalio tweeted on a thread his five biggest criticisms of investing in Bitcoin. Since 1985, Dalio served as Chief Investment Officer of the world's largest hedge fund, Bridgewater Associates, earning him a net worth of over $18.7 billion. As of April 2020, Bridgewater had approximately $138 billion in assets under management (AUM). His main arguments against Bitcoin were 1) Bitcoin is not very good as a medium of exchange, 2) Bitcoin is not a very good as a store-hold of wealth because it's too volatile (despite its price performance), 3) Bitcoin has little correlation to things people actually need to buy, 4) governments will shut it down once it gets too bug, and 5) neither central banks, big institutions, businesses, nor multinational companies will ever use it. "If I’m wrong about these things, I would love to be corrected," he ended his tweet. At a Bloomberg forum on Tuesday, Dalio said that diversification is one of the most important portfolio strategies, but investors shouldn't own bonds or cash right now. Collapsing interest rates by the central banks has changed the economics of borrowing. "In my opinion, don't own bonds, and don't own cash because they're producing a lot of debt and producing a lot of money to fund it, and so that's changing the nature of capital flows." He told investors to diversify between currencies, asset classes, and countries because it's the best way to reduce risk without reducing opportunity, but the volatility of Bitcoin still make it too risky. If Bitcoin is a bubble, it keeps reflating every four years after each halving and reaches new all-time highs. Bitcoin has been the best performing asset over the past decade.