Billionaire Stanley Druckenmiller has revealed he has invested in BTC. During an interview with CNBC, he said:
"It has a lot of attraction as a store of value to both millennials and the new West Coast money."
Druckenmiller has highlighted the stabilization of the crypto market and has compared Bitcoin investments with gold investments:
"My gold position is many, many more times larger than my Bitcoin allocation. Frankly, if the gold bet works the Bitcoin bet will probably work better because it's thinner, more illiquid and has a lot more beta to it."
Druckenmiller's opinion about Bitcoin was not so positive a year ago. This time, he said:
"I don’t think I’m a neanderthal, which is what I’ve been called when I’ve said I didn’t want to own Bitcoin."
A few weeks ago, the investor announced a short position on the dollar, which, according to him, will fall over the next 3-4 years.
Druckenmiller is the founder of Duquesne Capital and is considered one of the most successful managers on Wall Street. His net worth stands at $4.4B.
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