American billionaire investor and hedge fund manager Stanley Druckenmiller has recently expressed his changed opinion on the oldest cryptocurrency Bitcoin. The billionaire investor suggests that people who still do not hold any of the Bitcoin pie might pay out more than commodity assets such as gold.
Stanley Druckenmiller has further stated that Bitcoin is a store of value, and he claimed that it has the potential for future generations to come. He mentioned his view of Bitcoin in an interview with CNBC.
Druckenmiller also said that he has recently made the plunge into the cryptocurrency industry and bought some Bitcoin pie. Although he did not mention the number of his holding, he continued to invest in the gold market for the time being. But, he might strengthen his Bitcoin holdings more in the days to come.
In the interview with CNBC, the renowned hedge fund manager, stated that he sees Bitcoin as an asset with growth potential in the future. He further added that Bitcoin could become an asset class, which can have a lot of attraction as a store of value.
The former chairman and president of Duquesne Capital, Druckenmiller, has a net worth of roughly $4.4 billion. His recent comments regarding Bitcoin represent a change in his position on crypto. The billionaire investor earlier has claimed that BTC could never be a medium of exchange, as it has the highest price volatility in the market.
Druckenmiller has previously mentioned gold as a haven asset, which will protect investors from fiat exposure. Because some countries like China are eager to challenge the domination of the U.S. dollar each passing day. However, the currency picks up more of its stabilization as a brand.