Bridgewater Associates Founder: The US dollar's distressed debt situation indirectly drives gold and cryptocurrency prices higher. Bridgewater Associates founder Ray Dalio published an article today discussing stablecoins and cryptocurrencies. His key points include: 1. He does not believe that deregulating cryptocurrencies will threaten the US dollar's reserve currency status. However, 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 one of the factors driving the price increases 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, if the US dollar money supply increases and/or demand for it decreases, this could make cryptocurrencies an attractive alternative.