Stanley Druckenmiller, the prominent billionaire hedge fund manager has recently expressed his views about Bitcoin and gold, and how he wants to hold both of them.
This was while he was giving an interview at the Sohn Conference Foundation, he highlighted that in an inflationary bull market, he is willing to own bitcoin over gold, Whereas in a bear market, he would choose to have gold.
He is the CEO and chairman of Duquesne Family Office LLC. Earlier, he was a managing director at Soros Fund Management and had overall responsibility for funds with a peak asset value of $22 billion. The Forbes list of billionaires signifies that at present, his net worth is $6.8 billion.
Furthermore, he highlighted his Bitcoin and gold belief that this is true because he has been noticing the markets for a long time. He is starting to believe what he is observing. And stated firmly that if he thinks we are going to have an inflationary bull market, he would want to own bitcoin more than gold.
He added that this is his assumption going forward from this point. And that this is eighty-five percent based on what he has observed.
While talking about cryptocurrency investing, Druckenmiller signified that according to the high-frequency signals, seemingly there is a strong correlation between crypto and the Nasdaq.
And further talking about the future of cryptocurrency, he expressed that he will be quite surprised if blockchain is not a real force in our economy, say five years from now to ten years from now, and not a major disruptor.
And that the companies that will have been founded between now and then will do very well, but will also challenge things like our financial companies and carry out a lot of disruption.
This interview of him clearly highlights that he is quite optimistic about the crypto sphere. Even though currently the crypto market is witnessing quite bearish trends, some investors are still firm with their inclination toward the asset class.
At the time of writing, the crowned crypto asset, Bitcoin, is exchanging hands at $24,003 and is down by around 12% in the last twenty-four hours.
Source: https://www.thecoinrepublic.com/2022/06/13/bitcoin-over-gold-it-is-what-stanley-druckenmiller-prefers-in-the-inflationary-bull-market/