The founder of the hedge fund Bridgewater Associates, Ray Dalio, in an interview with CNBC, admitted that the digital yuan will be able to compete with bitcoin.

According to Dalio, in the coming years, the Chinese yuan may become the most significant and attractive currency in the world.

“I believe that in the future, people will choose their own currencies, and the most competitive ones will be those that have the strongest economic foundation. For many countries, this will become a threat,” he said.

The entrepreneur suggested that the US economy may be under attack not only because of the strengthening of the Chinese currency but also due to internal problems, among which he called the growing debt burden of Americans. Bridgewater Associates is an American investment company founded in 1975. The firm serves institutional clients, including pension funds, non-profit organizations, foundations, governments, and central banks of various countries.