- Billionaire Stan Druckenmiller shared why he purchased millions of Bitcoin.
- Druckenmiller couldn’t stand how the price went up without him owning BTC.
- Fellow billionaire Paul Tudor Jones also influenced his purchase decision.
It was the fear of missing out and the influence of fellow billionaire Paul Tudor Jones. That was what billionaire Stan Druckenmiller said influenced him to purchase BTC. In an interview with The Hustle, Druckenmiller shared tales of how he got into crypto investing.
Druckenmiller rose to prominence by founding Duquesne Capital in 1981. He managed investments for George Soros. Together, they made profits in trades against the British Pound back in 1992.
When Druckenmiller realized that BTC went from $50 to $17,000, he was astounded. He said,
I wanted to buy it every day.
In the interview, he stated that
“It was going up and — even though I didn’t think much of it — I just couldn’t stand the fact that it was going up and I didn’t own it. I never owned it from like $50 to $17,000, I felt like a moron.”
Aside from these, the billionaire also added that he got a call from Paul Tudor Jones mentioning Bitcoin holder statistics. Jones said that, “when bitcoin went from $17,000 to $3,000 that 86% of the people that owned it at $17,000, never sold it.”