Bitcoin News

Story: Bitcoin Hits $120K as Ray Dalio Calls It ‘Alternative Money’ Amid $3.7B Profit-Taking

By James Thorp

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Ray Dalio: Bitcoin Is Hard Money for a New Era. In a recent interview, Ray Dalio, founder of Bridgewater Associates, reiterated his view that…

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Investors Turn to Alternative Assets Amid Economic Shifts. The renewed focus on Bitcoin as “alternative money” reflects broader economic conditions.

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$3.7 Billion in Profits Realized. Bitcoin’s surge above $120,000 triggered a wave of profit-taking among long-term holders.

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Uptober: A Bullish Start to the Month. October has historically been a favorable month for cryptocurrencies, and traders are betting on a…

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Institutional Forecasts Signal More Upside. Wall Street is not ignoring Bitcoin’s momentum. Citigroup recently projected Bitcoin could reach…

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The Road Ahead for Bitcoin. While profit-taking has temporarily capped Bitcoin’s surge, the overall sentiment remains positive.

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Bitcoin’s resurgence above $120,000 has reignited global debate over its role in the financial system.

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The milestone rally comes as on-chain data reveals more than $3.7 billion in realized profits were taken in a single day — the fifth-largest such event in 2025.

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In a recent interview, Ray Dalio, founder of Bridgewater Associates, reiterated his view that Bitcoin has emerged as a credible form of “alternative money.

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“Bitcoin now has the defining features of hard money,” Dalio explained. “It has scarcity, portability, and growing global recognition.”

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Despite his positive stance, Dalio also pointed out limitations that could prevent Bitcoin from being widely adopted as a reserve currency by central banks.

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Still, Dalio’s comments add weight to the evolving narrative of Bitcoin as a legitimate asset class.

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The renewed focus on Bitcoin as “alternative money” reflects broader economic conditions. Global bond markets are under pressure, particularly due to reduced appetite for U.S.

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For Dalio and Kiyosaki, the limited supply of Bitcoin — capped at 21 million coins — makes it fundamentally stronger than fiat currencies, which can be printed endlessly.

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Analyst Caueconomy explained that such large-scale selling doesn’t necessarily signal weakness.

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