Famous billionaire and hedge fund manager Stanley Druckenmiller says he owns Bitcoin
Like billionaire Paul Tudor Jones who claimed to have invested some of his capital in Bitcoin BTC, it is the turn of another famous hedge fund manager to admit that he, too, bought Bitcoin.
Stanley Druckenmiller said on CNBC The Exchange that while he appreciates gold, he also owns Bitcoin.
“I’m a bit of a dinosaur, but I have warmed up to the fact that Bitcoin could be an asset class that has a lot of attraction as a store of value,” says legendary investor Stanley Druckenmiller to Kelly Evans on CNBC.
"I'm a bit of a dinosaur, but I have warmed up to the fact that Bitcoin could be an asset class that has a lot of attraction as a store of value," says legendary investor Stanley Druckenmiller to @KellyCNBC. His "dollar-decline basket" also features good ol' gold.$BTC $RIO $FCX pic.twitter.com/2zuM8JqxaW
— The Exchange (@CNBCTheExchange) November 9, 2020
Bitcoin as a safe haven against inflation
If the billionaire investor has positions in gold, he is therefore also betting on the rise in the Bitcoin price in response to the inflationary threat, as Paul Tudor Jones explained for his part.
The investor said inflation is expected to rise over the next 5-6 years due to massive Federal Reserve stimulus, noting that he likes both gold and bitcoin as ways to protect himself. against these potential inflationary pressures.
“If the gold bet works, the Bitcoin bet will work better.” says Stanley Druckenmiller
Much like Paul Tudor Jones, Stanley Druckenmiller is bearish on the dollar for years to come.
He also sees that young people, these famous millennials, invest more in bitcoin than in gold, a traditional safe haven since the dawn of time.
With these public statements, Paul Tudor Jones is now joined by investment big names like Stanley Druckenmiller.
Often criticized, Bitcoin therefore becomes an investment asset recognized by institutional investors who are clearly starting to take an interest in and buy Bitcoin.
A movement that is expected to accelerate as more companies and investment funds place some of their capital in BTC.
A Bitcoin price currently around 15,540 dollars and which should return to visit its ATH of 20,000 dollars soon if this renewed interest in Bitcoin is confirmed and accelerated.