I personally agree with some of the viewpoints expressed by Dalio @ RayDalio, and he is not wrong. But at the same time, I also want to say: one ️⃣ BTC positioning has never been an anonymous asset. The lack of privacy in BTC is not its disadvantage, but rather its advantage of transparent trading. two ️⃣ I strongly agree that there is a national system consensus for gold, but BTC does not, so I also own gold. Gold is not a simple investment, but a well-established infrastructure on global sovereign balance sheets, and Bitcoin is not yet. But I don't think that's a problem. Bitcoin is still young, and the future process should be: individual buying → institutional buying → ETF buying → corporate balance sheet buying → holdings by some national finance departments/sovereign funds → and finally forcing the central bank to reassess. So what I want to say is: If you are looking for the ultimate safe haven asset that can be accepted by global central banks, sovereign funds, and war finance systems today, gold still outperforms BTC. However: If you are looking for a non sovereign asset that may continue to consume a portion of fiat credit, technology stock liquidity, gold narrative, and the wealth reserve preferences of the younger generation in the next 10 years, BTC remains the strongest candidate. So for investors, the most dangerous thing is not to choose gold or BTC, but to confuse the two. My configuration is to maximize Bitcoin while holding some gold to resist inflation.