According to Blockworks, investor Stanley Druckenmiller recently shared his thoughts on bitcoin during a fireside chat with Paul Tudor Jones. The 70-year-old investor confessed that he does not currently own any bitcoin, but believes he should. Druckenmiller sees similarities between gold and bitcoin, with the main difference being their age. He stated that while he owns gold due to its 5,000-year-old history, younger generations view bitcoin as a store of value because it is easier to use.
Druckenmiller has previously made positive comments about bitcoin and cryptocurrencies. In September last year, he admitted to CNBC that he no longer owned bitcoin due to central banks tightening. However, he acknowledged owning bitcoin in 2021 and suggested that cryptocurrencies could play a significant role in a financial Renaissance if central banks continue to tighten their policies.
The investor has compared bitcoin and gold in the past, stating that younger generations view bitcoin as he views gold. He referred to bitcoin as a 'plaything' in a conference interview with Goldman Sachs a few years ago, expressing doubts about its potential as a currency. However, Druckenmiller acknowledged that bitcoin is currently considered an asset class.
