American billionaire Stanley Druckenmiller has changed the course of Bitcoin and says it has the potential to store value for future generations.
“Bitcoin could be an asset class that has great appeal as a storehouse for millennials as well as for the new West Coast money – and, as you know, they’ve gotten a lot from it,” said the billionaire. for 13 years and with each passing day, it picks up more of its stabilization as a brand. “
To be fair, Bitcoin’s whitepaper came out on Halloween, 2018, and the genesis block was mined in early 2009. But Druckenmiller is new to all of this, so there’s no need to attack him for his math. He kept saying he invests more in gold than BTC:
“I own much more gold than I own Bitcoin. But honestly, if the gold bet works, the bitcoin bet will likely work better because it’s thinner, more illiquid, and much more beta. “
The former chairman and president of Duquesne Capital, Druckenmiller, has a net worth of approximately $ 4.4 billion. His recent comments represent a shift in the billionaire’s position on crypto. Although he invested in stablecoin project Basis in 2018, the investor claimed that last year BTC can never be a medium of exchange, given the volatility.
“I don’t think I’m a Neanderthal, as I was called when I said I don’t want to own Bitcoin,” he said at the time.
Druckenmiller has previously pushed gold forward as a safe haven to protect investors from fiat exposure, with countries such as China seems eager to challenge the hegemony of the US dollar.