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Billionaire Investor Stanley Druckenmiller Now Owns Bitcoin

Billionaire Investor Stanley Druckenmiller Now Owns Bitcoin
  • Billionaire hedge fund investor Stanley Druckenmiller decides to buy bitcoin.
  • “If the gold bet works, the bitcoin bet will probably work better,” Stanley said in a CNBC interview.
  • World’s best institutional investors are now investing in bitcoin.

Stanley Druckenmiller, one of the most popular hedge fund investors and among Forbes’ list of billionaires, now owns bitcoin (BTC). He now recognizes BTC as an ideal store of value.

With a net worth of $4.7 billion, Stanley decided to make bets on cryptocurrency. In particular, he now invests in Bitcoin. This is conversely a change of heart from his side. Previously, he is firm that he would “neither long nor short bitcoin in any way.”

Yet on his recent interview, the billionaire investor pointed out that,

Frankly, if the gold bet works, the bitcoin bet will probably work better

Stanley’s decision came as a surprise to the crypto community. In spite of that, his addition to the list of institutional investors brings BTC further into the spotlight.

Morgan Creek Digital co-founder Anthony Pompliano certainly showed his enthusiasm:

Veteran investor Paul Tudor Jones has described Bitcoin as the “fastest horse” with the best odds, performance-wise. Earlier, he revealed that 2% of his assets are set on this crypto. On the other hand, Twitter and Square CEO Jack Dorsey believes in BTC’s potential to be the internet’s best currency. Thus, he has purchased around 4,709 BTC.

As of the time of writing, the BTC price is trading at $15,392. Undoubtedly, the crypto has successfully gone over its $12,000 resistance level. As a result, it recorded its all-time high (ATH) value since 2018.

More people will surely follow suit with Stanley’s and other billionaires’ suit. Hence, with more investors and traders trusting Bitcoin, the Bitcoin price prediction for 2021 is bullish. As a matter of fact, its market cap has already outperformed PayPal, Netflix, Coca-Cola, and Disney.

An aspiring journalist who spills her ideas in cryptocurrency and blockchain-related matters. With her background in Communication and Journalism, she is more inclined to write about reality than fiction.