Ray Dalio Warns CBDCs Are About Control, Not Efficiency
On Feb. 11, 2026, Ray Dalio, founder of Bridgewater Associates, cautioned that central bank digital currencies (CBDCs) are being embraced by governments for reasons beyond payment efficiency — namely increased oversight and control. Dalio’s blunt framing underscores fears that programmable digital money could enable more intrusive monetary tools, real-time transaction monitoring, and swift enforcement actions against individuals or entities. The warning matters because CBDC design choices will shape both civil liberties and financial markets. If policymakers prioritize traceability and conditional access, that could drive demand for privacy-preserving crypto, stablecoins, or offshore alternatives while forcing stricter regulation on intermediaries. For investors and users, the debate raises questions about custody, censorship resistance, and which platforms will retain value as digital payments evolve. Watch upcoming pilot designs and legislative proposals closely — they will determine whether CBDCs expand inclusion or expand state power.