Dalio: Stablecoins are transaction tools, not stores of wealth
Ray Dalio · WTF Is Wealth? Ray Dalio Breaks It Down w/ Nikhil Kamath | WTF is Finance Ep 2 · Nikhil Kamath · Dec 20, 2025 · at 26:06
Ray Dalio explains to Nikhil Kamath why stablecoins tied to fiat currencies do not qualify as viable wealth preservation assets.
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“A stable coin is attached to the fiat currency. So it goes down like the fiat currency goes down, and it doesn't give an interest rate. And they're toying around with whether it gives interest rates or not, but there's not a model that I've seen. So, so far it's used largely for immediate quick transactions, not a storehold of wealth, but immediate quick transactions, and it may be an efficient way to have that, but it's not my storehold of wealth yet.”
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