April 21, 2021

One of the most successful investors from Wall Street invested in bitcoin

One of the most successful investors from Wall Street invested in bitcoin

Billionaire investor Stanley Drakenmiller said he too is a bitcoin holder.

"Bitcoin can be an attractive asset class from a position of savings for both millennials and west coast money"," he said in a conversation with CNBC thisMonday.

In an interview, Drakenmiller focused on stabilizing the bitcoin market and compared cryptocurrency investments to investments in gold:

"I have many times more gold than bitcoins, but the truth is, if the gold bet works, the bet on bitcoin may workbetter because it is thinner and more illiquid, and much more sensitive about the movements of the rest of the market.It's been around for 13 years and every passing day takes inmore stabilisation as a brand."

Last year, Drakenmillerne welcomed the idea of investing in bitcoin.

'I don't consider myself a Neanderthal who I was called when I said I didn't hold bitcoin'- he added.

A few weeks ago, the investor announced the opening of a short position on the dollar, which, according to him, is waitingdecrease over the next 3-4 years.

Drakenmiller founded the firm Duquesne Capital and is considered one of the most successful managers on Wall Street.He closed his fund in August 2010, explaining the decision by feeling the inability to provide high returns for customers.Duquesne Capital had assets of more than $12 billion at the time of the closure.

From 1988 to 2000, Drakenmiller managed George Soros's money as a portfolio manager for the quantum fund.According to reports, amid the crisis of 2008, he managed to earn $260 million.Drakenmiller's personal fortune is estimated at $4.4 billion.

One of the most successful investors from Wall Street invested in bitcoin

</p>

Rate the publication