▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Billionaire investor Stanley Druckenmiller is betting on bitcoin, according to new comments made on CNBC.
“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,” said Druckenmiller, who previously served as a hedge fund manager and was the founder of Duquesne Capital, which operated from 1981 to 2010.
Druckenmiller highlighted the growing stabilization in the bitcoin market since its launch 13 years ago, comparing the act of investing in bitcoin to investing in gold.
“I own 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 and more illiquid and has a lot more beta to it,” he said.
Correlation between gold and bitcoin is trending upwards in recent weeks, though still far from its August high.
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
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