{"id":52186,"date":"2020-11-11T09:06:03","date_gmt":"2020-11-11T09:06:03","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=52186"},"modified":"2020-11-11T09:06:03","modified_gmt":"2020-11-11T09:06:03","slug":"billionaire-stanley-druckenmiller-owns-bitcoin-sees-attractive-store-of-value-that-could-beat-gold","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=52186","title":{"rendered":"Billionaire Stanley Druckenmiller Owns Bitcoin, Sees Attractive Store of Value That Could Beat Gold"},"content":{"rendered":"

\"Billionaire<\/p>\n

Billionaire investor Stanley Druckenmiller has revealed that he owns bitcoin, calling it an asset class that has a lot of attraction as a store of value and could be better than gold.<\/strong><\/p>\n

Stan Druckenmiller Owns Bitcoin<\/h2>\n

Stanley Druckenmiller revealed on Monday that he owns bitcoin and explained why it could be a better investment than gold.<\/p>\n

The famed investor founded Duquesne Capital in 1981 and closed the fund in August 2010. He managed money for George Soros as the lead portfolio manager for the Quantum Fund until 2000. He and Soros made massive profits betting against the British pound in 1992. According to Forbes, Druckenmiller\u2019s current net worth is $4.4 billion.<\/p>\n

In an interview with CNBC on Monday, Druckenmiller said:<\/p>\n

\n

I\u2019m a bit of a dinosaur, but I have warmed up to the fact that bitcoin could be an asset class that has a lot of attraction as a store of value.<\/p>\n<\/blockquote>\n

He elaborated that Bitcoin has \u201cbeen around for 13 years and with each passing day it picks up more of its stabilization.\u201d Bitcoin\u2019s creator, the pseudonymous Satoshi Nakamoto published the Bitcoin whitepaper on Halloween 2008.<\/p>\n

Besides bitcoin, Druckenmiller\u2019s portfolio features a lot of gold. \u201cI own many, many more times gold than I do bitcoin,\u201d the billionaire investor said, emphasizing:<\/p>\n

\n

Frankly, if the gold bet works, the bitcoin bet will probably work better because it\u2019s thinner, more illiquid and has a lot more beta to it.<\/p>\n<\/blockquote>\n

Druckenmiller\u2019s bitcoin reveal has attracted much attention in the crypto space. \u201cIs this not the greatest bitcoin endorsement of all time considering the calibre of Stan Druckenmiller?\u201d Nugget\u2019s News CEO Alex Saunders tweeted.<\/p>\n

Former Goldman Sachs hedge fund manager Raoul Pal tweeted in response to Druckenmiller\u2019s bitcoin comment:<\/p>\n

\n

The significance of the world\u2019s greatest and most respected money manager \u2013 Stan Druckenmiller saying just now that he is long bitcoin can not be overstated. That has removed every obstacle for any hedge fund or endowment to invest.<\/p>\n<\/blockquote>\n

Pal himself has more than 50% of his assets in BTC<\/a> and has predicted that the price of bitcoin will reach $1 million<\/a> within five years.<\/p>\n

Besides Druckenmiller, other famed hedge fund managers who have invested in bitcoin include Paul Tudor Jones<\/a>, who put about 2% of his assets in BTC<\/a>, and Bill Miller<\/a>, who recently said that all major banks will eventually have exposure to bitcoin.<\/p>\n

What do you think about Stan Druckenmiller\u2019s bitcoin view? Let us know in the comments section below.<\/strong><\/em><\/p>\n

The post Billionaire Stanley Druckenmiller Owns Bitcoin, Sees Attractive Store of Value That Could Beat Gold<\/a> appeared first on Bitcoin News<\/a>.<\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Billionaire investor Stanley Druckenmiller has revealed that he owns bitcoin, calling it an asset class that has a lot of attraction as a store of value and could be better than gold. Stan Druckenmiller Owns Bitcoin Stanley Druckenmiller revealed on Monday that he owns bitcoin and explained why it could be a better investment than […]<\/p>\n","protected":false},"author":2,"featured_media":52187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-52186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/52186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52186"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/52186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/52187"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}