Ray Dalio, founder of Bridgewater Associates, expressed skepticism about stablecoins as a means of storing wealth in a recent interview with Caixin. Dalio, who has held a small amount of Bitcoin for many years, views it as a diversified asset similar to gold, despite its limitations and the reluctance of central banks to hold it. Dalio criticized stablecoins for their inability to generate interest, making them less attractive than interest-bearing fiat assets. He acknowledged their global applicability and utility in facilitating transactions but questioned their effectiveness in addressing US debt issues, suggesting that stablecoin purchases by US debt holders merely shift the debt without increasing demand.