November 26, 2020

Billionaire Stanley Druckenmiller talks about his Bitcoin investment

The investor compared investing in cryptocurrency with buying gold and explained why betting on digital money may work better than precious metal.

Billionaire Stanley Druckenmiller, fortunewhich is estimated at $ 4.4 billion, spoke about his investments in bitcoin. According to the investor, the first cryptocurrency could be an attractive asset class not only for millennials. In an interview with CNBC, Druckenmiller compared investing in a major digital coin to buying gold.

“I have much more gold than bitcoins, butif betting on gold works, investing in bitcoin will probably work even better. It is thinner and more illiquid, much more sensitive to the movements of the rest of the market, ”the billionaire emphasized.

According to him, every day bitcoin becomesmore stable due to its brand. At the same time, Druckenmiller did not hold Bitcoin last year, and a few weeks ago the investor opened a short position on the dollar, which, according to him, will lose in value in the next 3-4 years.