Dalio Says Governments Will Kill Bitcoin. Is He Right?
In an otherwise extremely bullish week, famed investor Ray Dalio reiterated his skepticism of bitcoin and digital assets.

In an otherwise extremely bullish week, famed investor Ray Dalio reiterated his skepticism of bitcoin and digital assets.
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
This episode is sponsored by Crypto.com and Nexo.io.
Ray Dalio FUD:
On this edition of the weekly recap, NLW looks at bitcoin’s surge past $16,000. Additionally, he explores some recent FUD from Ray Dalio, which NLW argues seems strangely locked in years-old narratives.
This week on The Breakdown:
- Monday | The Biggest Macro Event Since March
- Tuesday | Legendary Investor Stan Druckenmiller Turns Bitcoin Bull
- Wednesday | Discovering Bitcoin Through the #EndSARS Movement, Feat. Yele Bademosi & Akin Sawyerr
- Thursday | Meet the $10B Asset Manager With a 10,000 BTC Treasury, feat. NYDIG’s Robby Gutmann
- Friday | PayPal Rolls Out Crypto for All US Customers
See also: First Mover: Bitcoin Breaches $16K as (Committed) Holders Diss Dalio’s Diss
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
More For You
Pudgy Penguins: A New Blueprint for Tokenized Culture

Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
More than half of bitcoin’s invested supply has a cost basis above $88,000

Most invested bitcoin supply sits above current prices, increasing price vulnerability if key support levels fail.
What to know:
- Around 63% of invested bitcoin wealth has a cost basis above $88,000.
- An onchain measure shows heavy concentration of supply between $85,000 and $90,000, combined with thin support below $80,000.











