American billionaire Stanley Druckenmiller has changed course on Bitcoin, saying it has the potential to store value for future generations.
“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 — and, as you know, they got a lot of it,” said the billionaire. “It’s been around for 13 years and with each passing day it picks up more of its stabilization as a brand.”
“I 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.”