Stanley Druckenmiller: another billionaire sees bitcoin as store of value

[Jating]

And then we have a new 'fan', Stanley Druckenmiller, a billionaire hedge fund manager, and said that he has BTC and believed that the price could go up in the future.



https://twitter.com/CNBCTheExchange/status/1325887078987689985

And he also admitted that he is old and traditional, but he thinks that bitcoin together with gold is the best investment vehicle now. And the list grows like everyday, billionaire investors are not seeing bitcoin as really the best asset to invest as store of value.

[davis196]

Another billionaire will join the crypto whales tribe.This is good news.I'm surprised that rich people view Bitcoin as a potential investment alongside gold.Let's hope that this will be a sustainable trend and more millionaires and billionaires will join the Bitcoin club.The real change will come once the hedge funds step in and start buying actual Bitcoins,not derivatives like Bitcoin futures or some sort of Bitcoin contracts(like what the Bakkt project is doing,if I remember this correctly).

[Oshosondy]

It is not about a billionaire only saying this, it is obvious and we can see this ourselves, there was a time bitcoin was $0.8 and now at $15000, is that not a store of value and obviously to see. Even if the price has not increased to this such extent, because bitcoin is a digital asset, it makes it remain as a store of value. People that realized this earlier were able to make a lot of money from bitcoin. But with the adoption now, many people do not yet know bitcoin much, they will buy, the marketcap will still increase, the supply will reduce and all will be mined in a way the increase demand with little supply will increase the price of bitcoin the more.

[Upgrade00]

Watched the interview earlier today, what I found most interesting was how he compared both assets;
"Gold is a 5000 year brand and is a go to asset in terms of inflation" and later on;
"I own many many more times gold than bitcoin but frankly if the gold bet works the bitcoin bet will probably work better because it's thinner, more illiquid and has more beta to it."

This means he considers an asset which is almost 12 years (from the Genesis block) to be a better bet than gold which has been around for 50 centuries. The more people come to this realization, the more adoption Bitcoin would get.

[TalkStar]

And he also admitted that he is old and traditional, but he thinks that bitcoin together with gold is the best investment vehicle now. And the list grows like everyday, billionaire investors are not seeing bitcoin as really the best asset to invest as store of value.

Another clear example that bitcoin is getting popular among worldwide established businessman and they have a good portion of investment in bitcoin. Same like Stanley Druckenmiller most modern age investors have strong believe on bitcoin's potentiality and future development. I don't think he is the only person who have BTC but also more famous business person have their investment but due to their government regulation issue they are not revealing their investment secret.

Recently we have seen some companies have started their journey with bitcoin by making massive amount of investment and we are experiencing its effect on entire cryptoworld now. Even in pandemic situation world economy is shaking but during that time bitcoin overall price stability and growth showed us its strength. In my personal opinion its just a beginning and 2021 is going to be a remarkable year for Bitcoin.

[pixie85]

I wonder if this has something to do with Biden and the rumors that he's going to be bad news for the rich.

If this happens to be true many rich people will choose Bitcoin at least as a hedge investment or a safety fund. Nowadays keeping money in Bitcoin is better than keeping it on a Swiss account.

[buwaytress]

And of course, we take everything with a grain of salt. I can say I own Bitcoin too or I'm all in or 10% exposed or whatever term it is people use these days -- and lots of us do in some varying degree -- but nobody says nothing without trying to gain an edge over their money with what they say.

Still. Store of value ain't nothing to sniff at.

[Twentyonepaylots]

It is not about a billionaire only saying this, it is obvious and we can see this ourselves, there was a time bitcoin was $0.8 and now at $15000, is that not a store of value and obviously to see.

The very point of OP is that a probable whale, big personality might dive into crypto especially bitcoin and that could be a great addition for the price, and might trigger another bull run hopefully if he decides to. If you are already into bitcoin since 2016 or 2017, that means you already saw its potential, a currency or a store of value.

Even if the price has not increased to this such extent, because bitcoin is a digital asset, it makes it remain as a store of value.

Bitcoin is a store of value, but what makes it different from the other is that it is volatile, so for a billionaire to consider bitcoin is a huge news to the community given that these people don't risk that high with uncertainties.

[Yaunfitda]

I wonder if this has something to do with Biden and the rumors that he's going to be bad news for the rich.

Nah, I don't think that it is about Biden winning the Presidency.

If this happens to be true many rich people will choose Bitcoin at least as a hedge investment or a safety fund. Nowadays keeping money in Bitcoin is better than keeping it on a Swiss account.

Those billionaires has come to the realization that bitcoin is an asset although fairly new, we even don't have a huge sample of data to even compare it to gold is so liquid that they are risking their wealth on it instead of the old traditional instruments. And maybe it is also because of the current situation, there is still uncertainty and this rich people are looking for other asset to be a store of value.

[aesma]

A billionaire buying BTC means he has probably bought thousands and will not trade them, that's good for the price.

Now, as a billionaire, this is an obvious move. It was even more obvious some years ago I would say : invest some millions into everything, you're a billionaire, you can afford it ! Real estate and land in several countries, gold, shares all over the world, etc. That's how you stay wealthy whatever happens.

[TravelMug]

A billionaire buying BTC means he has probably bought thousands and will not trade them, that's good for the price.

Not sure how much BTC he bought though, he just said that he owns BTC, many hundreds to test it out and see how his portfolio grows in the next coming years.

Now, as a billionaire, this is an obvious move. It was even more obvious some years ago I would say : invest some millions into everything, you're a billionaire, you can afford it ! Real estate and land in several countries, gold, shares all over the world, etc. That's how you stay wealthy whatever happens.

But there could be some billionaires who are still skeptical on BTC as a hedge. And these wealthy person really know a thing or two about investments, and they wanted to spread out their wealth across several investments and maybe Stanley see BTC as just one options this year.

[Darker45]

They're here, one after another. We had Michael Novogratz, Paul Tudor Jones, Jack Dorsey, and others.

What I am more interested in, however, is whether or not they see Bitcoin more than just an "asset class" or a store of value, whether or not they appreciate Bitcoin's price as much as its decentralized feature, whether or not they promote Bitcoin as much as the freedom from banks and governments which it essentially entails, and so on.

[pooya87]

a billionaire hedge fund manager

a "billionaire" will never reveal where they are investing their money. they need to protect their privacy more than anybody else and why would they do it anyways?
a hedge fund manager on the other hand mostly advertises their own service and lives on commissions. if this dude were investing in bitcoin, he has been doing it for a long time not just now that price is up and the market is being hyped up. meaning when price was $3k. telling others about it means he wants others to invest in bitcoin possibly through his firm!

[maxreish]

Not only him who can see bitcoin as a store value. But the fact that he is one of the billionare  man who gives optimistic comments about bitcoin brcause he himself own bitcoins, can eventually influence other by investing into it. Another big btc enthusiast who believes btc can be a store value of asset like gold.
 
 

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.

 He owns more gold than btc but he believes btc can even do better. Hmn, another bitcoin whale?

[imstillthebest]

another billionaire sees bitcoin as store of value

that another billionaire word makes me happy but the sees bitcoin as store of value make me think twice if im going to be happy or not . what do you guys think of that . if they see it as a store of value they will invest on it and it gives a huge contribution to the crypto market because they are billionaires but they didnt appreciate btc as a form of money  . billionaires are usually investors , they love investing thier wealth more than anything else .

billionaire investors are not seeing bitcoin as really the best asset to invest as store of value.

why ? he already invest on btc or is it because he have other investments too ? they are new on btc and if they start loving it they can change thier view thru it

[Jating]

a billionaire hedge fund manager

a "billionaire" will never reveal where they are investing their money. they need to protect their privacy more than anybody else and why would they do it anyways?
a hedge fund manager on the other hand mostly advertises their own service and lives on commissions. if this dude were investing in bitcoin, he has been doing it for a long time not just now that price is up and the market is being hyped up. meaning when price was $3k. telling others about it means he wants others to invest in bitcoin possibly through his firm!

That is possible as well, but we can't discount the fact here that many people (individual/retail/institutional investors) are trying to join the hype train more than ever in the history of bitcoin.

You can say that as well to Warren Buffett, and yet he goes to the media and tell us where he is putting his money, advertisement to his Berkshire? absolutely, but it is a win-win situation regardless of what angle you look at.

[aesma]

What is very possible is that many billionaires own BTC without saying it.

What would be funny is if billionaires (or big millionaires etc.) who openly dismiss BTC were in fact significant hodlers. It wouldn't surprise me to be honest, it's easier to hedge your bets ! If BTC becomes mainstream at a very high price, they will have lost some credibility, but they will be BTC rich.

[BALIK]

And then we have a new 'fan', Stanley Druckenmiller, a billionaire hedge fund manager, and said that he has BTC and believed that the price could go up in the future.

Every BTC investor thinks that the price will go higher in the future, that's why they invest to begin with! The fact that another person is seeing BTC as an option for staking capital during such economic turmoil, I can't help but to think that it is only natural and a matter of time before more follow suit!

And he also admitted that he is old and traditional, but he thinks that bitcoin together with gold is the best investment vehicle now. And the list grows like everyday, billionaire investors are not seeing bitcoin as really the best asset to invest as store of value.

It makes sense that investors are looking at options to store their capital value and the fact that traditionalists now accept BTC as means to do that just means that they are adopting. And you'd be a fool not to do so when you have so much at stake. By investing their capital in both gold and BTC means diversification and this is the word any successful investor would know something about. In other words, this move is an inevitable strategy.

[cryptomaniac_xxx]

What is very possible is that many billionaires own BTC without saying it.

That is also possible, maybe they wanted to remain private and keep a mum about their BTC holdings.

What would be funny is if billionaires (or big millionaires etc.) who openly dismiss BTC were in fact significant hodlers. It wouldn't surprise me to be honest, it's easier to hedge your bets ! If BTC becomes mainstream at a very high price, they will have lost some credibility, but they will be BTC rich.

That's also one reality, they openly attack bitcoin, but secretly buying BTC, just like what Jamie Dimon did in 2017, to bring the price down so that they can scoop huge amount of BTC without making any alarm. But they can't help it as well, as they openly admitted to this fraudulent but effective tactics.