'Buy Bitcoin': Bitwise Exec Reacts to Ray Dalio's Warning

Key Points

1. Ray Dalio warns that the U.S. budget bill will result in $7 trillion annual spending against $5 trillion revenue, creating a $2 trillion deficit.

2. The U.S. national debt is roughly six times the government's annual income and equals the country's GDP.

3. Dalio views Bitcoin as a popular alternative to gold but expresses concerns about its political control and potential hacking risks.

4. Bitcoin advocates argue that the debt crisis strengthens the case for Bitcoin as a hedge against economic instability.

5. Dalio began investing in Bitcoin, acknowledging its role as a store of value despite his reservations.