- Ray Dalio admitted to holding the second-largest cryptocurrency, Ethereum, in his portfolio.
- The billionaire investor recommends portfolio diversification into crypto, to tackle rising inflation.
- Former President of Argentina sees Ethereum as one of the most innovative technologies of 2021.
- Analysts note that Ethereum is above critical support, and predict a recovery in the altcoin's price.
Investors recommend diversifying portfolios into Ethereum to fight the risk of inflation. Analysts predict that Ethereum price could be on path to recovery.
Ethereum could make a comeback with rising popularity
Ray Dalio, an American billionaire and investor revealed his Ethereum holdings. In a recent interview with Yahoo, Dalio admitted to holding the largest cryptocurrency, Bitcoin and the altcoin with the highest market capitalization, Ethereum.
Dalio recommends that investors diversify their portfolios into crypto to mitigate the risk of inflation. He shed light on the rising popularity of the top two cryptocurrencies and the current state of the crypto economy.
Dalio was quoted as saying:
Well, I’m not going to give the precise amount of Bitcoin, but I do own some Ethereum as well. But, the answer to your question is that I don’t own a lot of it. I view it as alternative money in an environment where the value of cash money is depreciating in real terms.
With the rising inflation rates, Dalio recommends cryptocurrency as the best alternative to traditional money. The billionaire investor has openly supported digital assets over the last few months.
Among other prominent influencers, the former Argentinian President has come out in support of Ethereum. Mauricio Macri was fascinated by his encounter with Ethereum founder Vitalik Buterin. Macri said,
Fascinating encounter with Vitalik Buterin, creator of Ethereum, one of the most innovative decentralized technologies of our century. Its Ether currency is one of the best valued in the world.
Ethereum price is currently above the crucial support at $3,912. Analysts are bullish on a recovery in the altcoin.
@Koolaid_crypto, a pseudonymous cryptocurrency analyst believes that Ethereum price could recover if it remains above the crucial support.
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