1 year ago
Renowned billionaire hedge money manager Stanley Druckenmiller says helium doesn’t ain immoderate bitcoin but helium should. He sees the crypto arsenic a brand. When comparing bitcoin to gold, helium said: “It’s wide that the young radical look astatine it arsenic a store of worth due to the fact that it’s a batch easier to bash worldly with.”
Stan Druckenmiller Says He Should Own Bitcoin
Billionaire capitalist Stanley Druckenmiller discussed bitcoin investing with chap hedge money manager Paul Tudor Jones during a fireside chat astatine the JPMorgan/Robin Hood Investors Conference successful New York City connected Oct. 24. Druckenmiller is the president and CEO of Duquesne Family Office LLC. He was antecedently a managing manager astatine Soros Fund Management wherever helium had wide work for funds with a highest plus worth of $22 billion. According to Forbes’ database of billionaires, his idiosyncratic nett worthy is presently $6.4 billion.
When asked astir golden and bitcoin, Druckenmiller said: “I’m 70 years old. I ain gold.” Emphasizing that helium likes some golden and bitcoin, Druckenmiller shared:
I don’t ain immoderate bitcoin to beryllium frank, but I should.
The billionaire added: “I was amazed that bitcoin got going, but you know, it’s wide that the young radical look astatine it arsenic a store of worth due to the fact that it’s a batch easier to bash worldly with. 17 years, to me, it’s a brand. I similar golden due to the fact that it’s a 5,000-year-old brand, but the young radical person each the money, surely the ones connected the West Coast.” Bitcoin proponents conscionable celebrated the 15th anniversary of Satoshi Nakamoto’s Bitcoin achromatic insubstantial connected Tuesday.
Druckenmiller utilized to beryllium a BTC investor. He said successful November 2020: “I’m a spot of a dinosaur, but I person warmed up to the information that bitcoin could beryllium an plus people that has a batch of attraction arsenic a store of value.” In June past year, helium revealed that helium preferred to ain bitcoin much than golden successful an inflationary bull market. “Frankly, if the golden stake works, the bitcoin stake volition astir apt enactment amended due to the fact that it’s thinner, much illiquid, and has a batch much beta to it,” helium antecedently described.
However, the billionaire hedge money manager got retired of the cryptocurrency successful effect to tightening measures imposed by cardinal banks. He explained successful September past year: “It’s pugnacious for maine to ain thing similar that with cardinal banks tightening.” Nonetheless, Druckenmiller stressed: “I could spot cryptocurrency having a large relation successful a Renaissance due to the fact that radical conscionable aren’t going to spot the cardinal banks.”
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