American billionaire Stanley Druckenmiller changed the course of bitcoin and said that it has the potential to preserve value for future generations.
Speaking on CNBC today, Druckenmiller said that while he still invested more in gold than crypto, he bought at least some bitcoin (BTC). He did not specify how much.
“Bitcoin can be an asset class that has great attractiveness as a store of value for both millennia and new West Coast money – and you know they have a lot of them,” the billionaire said. “It has been around for 13 years and is strengthening its brand stability every day.”
In all fairness, the Bitcoin White Paper came out on Halloween 2008 and the Genesis block was dropped in early 2009. But Druckenmiller is new to cryptocurrency, so there is no need to attack him because of his account. He also said that he invests in gold more than BTC:
“I have many times more gold than I do. But honestly, if the gold bet turns out to be successful, the bitcoin bet will probably perform better because it is thinner, more liquid and has many beta versions. ”
As president and former president of Duquesne Capital, Druckenmiller has net worth of approximately $ 4.4 billion. His recent comments reflect the billionaire’s changing attitude toward cryptocurrencies. Although it invested in the stable investment Basis in 2018, an investor stated last year that BTC could not be a medium of exchange given its volatility.
At the time, he said, “I don’t think I’m Neanderthal, that’s what they called me when I said I didn’t want to own bitcoin.”
Druckenmiller previously offered gold as a safe haven to protect investors from the impact of securities, as countries like China seem to be looking to challenge the dollar’s dominance.