{"id":108560,"date":"2020-11-10T00:40:37","date_gmt":"2020-11-09T21:40:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-may-pay-out-more-than-gold-says-billionaire-investor\/"},"modified":"2020-11-10T00:40:37","modified_gmt":"2020-11-09T21:40:37","slug":"bitcoin-may-pay-out-more-than-gold-says-billionaire-investor","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-may-pay-out-more-than-gold-says-billionaire-investor\/","title":{"rendered":"# Bitcoin may pay out more than gold, says billionaire investor"},"content":{"rendered":"

“# Bitcoin may pay out more than gold, says billionaire investor <\/strong>”
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American billionaire Stanley Druckenmiller has changed course on Bitcoin, saying it has the potential to store value for future generations.<\/p>\n

Speaking on CNBC today, Druckenmiller said<\/a> that, although he was still more heavily invested in gold than crypto, he had purchased at least some Bitcoin (BTC). He did not specify how much.<\/p>\n

“Bitcoin could be an asset class that has a lot of attraction as a store of value to both millennials and the new West Coast money \u2014 and, as you know, they got a lot of it,\u201d said the billionaire. \u201cIt\u2019s been around for 13 years and with each passing day it picks up more of its stabilization as a brand.\u201d<\/p>\n

To be fair, Bitcoin’s white paper came out on Halloween, 2018, and the genesis block was mined at the beginning of 2009. But Druckenmiller is new to all of this, so no need to attack him for his math. He continued to say he is more invested in gold than BTC:<\/p>\n

\u201cI own many many more times gold than I own Bitcoin. But 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.”<\/p><\/blockquote>\n

The former chairman and president of Duquesne Capital, Druckenmiller has a net worth of roughly $4.4 billion. His recent comments represent a change in the billionaire\u2019s position on crypto. Though he invested in stablecoin project Basis in 2018, the investor claimed last year that\u00a0BTC could never be a medium of exchange, given its volatility.<\/p>\n

\u201cI don\u2019t think I\u2019m a neanderthal, which is what I\u2019ve been called when I\u2019ve said I didn\u2019t want to own Bitcoin,\u201d he said at the time. <\/p>\n

Druckenmiller has previously put forward gold as a safe haven asset to protect investors from fiat exposure, with countries like China seemingly eager to challenge the hegemony of the U.S. dollar.<\/p>\n<\/div>\n