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Billionaire Hedge Fund Investor Druckenmiller Says He Owns Bitcoin in CNBC Interview

Billionaire Hedge Fund Investor Druckenmiller Says He Owns Bitcoin in CNBC Interview
(Stefanie Keenan/Getty Images)

Billionaire U.S. investor Stanley Druckenmiller, who just weeks ago was said to be shorting the dollar, is long on bitcoin.

  • Druckenmiller said on CNBC Monday he owns bitcoin, becoming the latest high-profile, ultra-high net worth investor to get in on the benchmark digital currency.
  • Though he said his gold position is “many many more times” larger than his bitcoin allocation, Druckenmiller predicted his bitcoin would outperform.
  • “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.
  • “It has a lot of attraction as a store of value to both millennials and the new West Coast money, and as you know, they have a lot of it.”
  • Druckenmiller also said he’s anticipating a 3-4 year decline in the dollar. Just weeks ago, a Bloomberg report revealed Druckenmiller was betting against the dollar.
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