Update/Bridgewater founder Ray Dalio further stated his bullish stance on cryptocurrencies on three points. Key points include: 1. While he does not believe that deregulation of cryptocurrencies will threaten the US dollar's reserve currency status, the distressed debt situation of the US dollar and other reserve currency governments does affect their attractiveness as reserve currencies and storeholds of wealth, which has been a factor driving the prices of gold and cryptocurrencies. 2. He does not believe that stablecoins' exposure to Treasury bonds poses a systemic risk. The real risk lies in the decline in the actual purchasing power of Treasury bonds, which should not pose any systemic risk if stablecoins are well regulated. 3. Cryptocurrencies are currently an alternative currency with a limited supply. Therefore, all things being equal, an increase in the US dollar money supply and/or a decline in demand for it could make cryptocurrencies an attractive alternative.