Brothers, don’t oversimplify Dalio’s perspective this time as just 'he’s hyping gold and BTC.' What he’s really worried about is the cycle between U.S. debt, interest rates, and monetary credibility. The CBO estimates that by the 2026 fiscal year, the U.S. deficit will be around $1.9 trillion, with net interest expenses exceeding $1 trillion. The issue isn’t that the U.S. will implode tomorrow, but that as the debt snowballs, the market will start demanding higher long-term interest rates to compensate for the risk. This creates a troublesome chain reaction: Deficit expands, more bonds are issued. Long-term bonds face pressure, interest rates rise. Interest expenses continue to increase. Fiscal space gets further squeezed. Eventually, the market starts worrying about the purchasing power of the dollar and monetary credibility. That’s why Dalio suggests underweighting bonds, allocating 10%-15% to gold, and a small amount to BTC. It’s not about chasing gains but hedging against sovereign debt and currency devaluation risks. It’s important to distinguish the roles of gold and BTC here. Gold is more like a core safe-haven anchor. It doesn’t rely on a company’s profitability or a country’s promises—the real value lies in its defensive nature when monetary credibility is weakened. BTC, on the other hand, is more of a small-scale enhancer. It’s more flexible, has stronger narratives, but also comes with more extreme volatility. That’s why Dalio talks about 'a bit of bitcoin,' not going all-in. For regular investors, the most valuable takeaway isn’t to copy his portfolio but to rethink asset allocation: If you only hold stocks, you’ll struggle when hit by interest rate shocks. If you only hold bonds, you might not be safe if fiscal credibility is questioned. If you go all-in on BTC, the volatility might exceed what most people can handle. The truly stable approach is understanding what each asset contributes to your portfolio: Stocks drive growth. Bonds provide defense, but you need to consider the interest rate environment. Gold hedges against monetary credibility risks. BTC can be a small proportion of non-traditional asset supplementation. Dalio isn’t talking about short-term market trends this time—he’s addressing a longer-term issue: When debt keeps growing, interest costs keep rising, and monetary credibility becomes increasingly questionable, regular people shouldn’t just focus on returns. They also need to learn how to build a firewall for their assets.