Stanley Druckenmiller Now Holds Bitcoin

by in Cryptocurrency News

Stanley Druckenmiller Holds Bitcoin

Successful American Investor, hedge fund manager Stanley Druckenmiller announced on November 9 about having bought the world's largest cryptocurrency.

The billionaire says that BTC is a supply of value that becomes stronger and stronger during the time. He compared gold to bitcoin, saying the second is a better asset as it's "thinner" and "more liquid."

Earlier in May, Druckenmiller questioned the US stock market recording V-shaped healing, with shows that government economic programs would not be enough for a post-pandemic industrial restoration.

Trending: Crypto market cap hit a new high reaching $1.7 trillion

Analysts believe that as there would be a smaller stimulus package than anticipated, the US dollar is supposed to further decline. Druckenmiller thinks that there is a high possibility that the US dollar would see inflation in the next 5 or 6 years. It's worth mentioning that back in 2019 Druckenmiller didn't find it would be a good option to invest in BTC. Druckenmiller believes that Bitcoin’s price instability has been a major entry obstacle for him and that he would neither long nor short Bitcoin anyway as he did not comprehend why it has intrinsic value.