{"id":558359,"date":"2023-10-31T09:45:12","date_gmt":"2023-10-31T09:45:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=558359"},"modified":"2024-06-11T07:09:23","modified_gmt":"2024-06-11T07:09:23","slug":"70-year-old-billionaire-bitcoin","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/70-year-old-billionaire-bitcoin\/","title":{"rendered":"Why This 70-Year-Old Billionaire Wants To Own Bitcoin"},"content":{"rendered":"

Billionaire investor Stanley Druckenmiller recently gave his two cents on Bitcoin, acknowledging the asset’s growth and popularity over the past 17 years. While speaking at an interview with billionaire Paul Tudor Jones, Druckenmiller compared Bitcoin to gold, noting its evolution into a <\/span>recognizable brand and investment vehicle<\/span><\/a>.\u00a0<\/span><\/p>\n

Druckenmiller admits he doesn’t actually own any BTC as of the moment, but he’s been closely following it and thinks it could be an attractive investment.<\/span><\/p>\n

Druckenmiller Sees Bitcoin And Gold As Stores of Value<\/h2>\n

Bitcoin has long been hailed by financial analysts as the <\/span>ideal asset for hedging against inflation<\/span><\/a> and storing value. Some have dubbed the cryptocurrency as the 21st century’s digital gold because of its low correlation with stocks, and Druckenmiller doesn\u2019t disagree.<\/span><\/p>\n

Related Reading: Time To Exit Bitcoin? Crypto Analyst Predicts 75% Breakdown To $8,000<\/a><\/div>\n

Stanley Druckenmiller is the founder and former chairman of Duquesne Capital, and as a 70-year-old billionaire investor, he has seen a lot of financial trends come and go over the decades. But recently, he’s become fascinated with BTC.\u00a0<\/span><\/p>\n

In the interview with Paul Tudor Jones, Druckenmiller stated that BTC has been particularly popular as a reputable brand because of its appeal to younger investors. The billionaire made this note while comparing Bitcoin to gold, the age-long store of value.<\/span><\/p>\n

“I’m 70 years old, I own gold. I was surprised that Bitcoin got going, but it’s clear that the young people look at it as a store of value because it’s a lot easier to do stuff with. And 17 years, to me, it’s a brand.” Druckenmiller said.<\/span><\/p>\n

\n

Stanley Druckenmiller is one of the most successful hedge fund managers on Wall Street and is worth $6,200,000,000.<\/p>\n

He says, \u201cYoung people look at #bitcoin<\/a> as a store of value. It\u2019s a brand. I like it. I dont own any, but I should\u201dpic.twitter.com\/DXjrnvE1Qc<\/a><\/p>\n

\u2014 Documenting \u20bfitcoin \ud83d\udcc4 (@DocumentingBTC) October 30, 2023<\/a><\/p><\/blockquote>\n

It would seem the billionaire hasn’t invested in Bitcoin yet mainly because of the lack of clear regulation in the crypto industry. Druckenmiller said that he had previously held BTC. However, he sold them in 2022 because of restrictive policies imposed by central banks.<\/span><\/p>\n

“I like gold because it’s a 5,000-year-old brand, but the young people have all the money,\u201d Druckenmiller said. \u201cSo, I like them both. I don’t own any Bitcoin to be frank, but I should.”<\/span><\/p>\n

Druckenmiller\u2019s History With BTC<\/h2>\n

This isn’t the first time Druckenmiller has <\/span>made positive comments<\/span><\/a> about the crypto industry. <\/span>Back in an interview in 2021,<\/span><\/a> he likened Bitcoin to gold. He also predicted then that Ethereum could flip Bitcoin as smart contracts on the Ethereum blockchain spiked in popularity. <\/span>In 2022<\/span><\/a>, he said people could turn to crypto as more people lose faith in central banks.<\/span><\/p>\n

Related Reading: Solo Bitcoin Miner Snags $200,000 Block Reward, How Did They Do It?<\/a><\/div>\n

Investors like <\/span>Druckenmiller and Jones have always praised<\/span><\/a> Bitcoin, but others like Warren Buffet have been pessimistic. <\/span>Buffet slammed BTC<\/span><\/a> in a CNBC interview in April this year, calling it a \u201cgambling token.\u201d<\/span><\/p>\n

On the other hand, Bitcoin has been named as the <\/span>best-performing asset class<\/span><\/a> this year, outperforming stocks, bonds, commodities, and REITs. BTC is trading at $34,195 at the time of writing and is looking to <\/span>break above<\/span><\/a> a resistance at $35,000.<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price shows strength | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Shutterstock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Billionaire investor Stanley Druckenmiller recently gave his two cents on Bitcoin, acknowledging the asset’s growth and popularity over the past 17 years. While speaking at an interview with billionaire Paul Tudor Jones, Druckenmiller compared Bitcoin to gold, noting its evolution into a recognizable brand and investment vehicle.\u00a0 Druckenmiller admits he doesn’t actually own any BTC as of the moment, but he’s been closely following it and thinks it could be an attractive investment. Druckenmiller Sees Bitcoin And Gold As Stores of Value Bitcoin has long been hailed by financial analysts as the ideal asset for hedging against inflation and storing value. Some have dubbed the cryptocurrency as the 21st century’s digital gold because of its low correlation with stocks, and Druckenmiller doesn\u2019t disagree. Related Reading: Time To Exit Bitcoin? Crypto Analyst Predicts 75% Breakdown To $8,000 Stanley Druckenmiller is the founder and former chairman of Duquesne Capital, and as a 70-year-old billionaire investor, he has seen a lot of financial trends come and go over the decades. But recently, he’s become fascinated with BTC.\u00a0 In the interview with Paul Tudor Jones, Druckenmiller stated that BTC has been particularly popular as a reputable brand because of its appeal to younger investors. The billionaire made this note while comparing Bitcoin to gold, the age-long store of value. “I’m 70 years old, I own gold. I was surprised that Bitcoin got going, but it’s clear that the young people look at it as a store of value because it’s a lot easier to do stuff with. And 17 years, to me, it’s a brand.” Druckenmiller said. Stanley Druckenmiller is one of the most successful hedge fund managers on Wall Street and is worth $6,200,000,000. He says, \u201cYoung people look at #bitcoin as a store of value. It\u2019s a brand. I like it. I dont own any, but I should\u201dpic.twitter.com\/DXjrnvE1Qc \u2014 Documenting \u20bfitcoin \ud83d\udcc4 (@DocumentingBTC) October 30, 2023 It would seem the billionaire hasn’t invested in Bitcoin yet mainly because of the lack of clear regulation in the crypto industry. Druckenmiller said that he had previously held BTC. However, he sold them in 2022 because of restrictive policies imposed by central banks. “I like gold because it’s a 5,000-year-old brand, but the young people have all the money,\u201d Druckenmiller said. \u201cSo, I like them both. I don’t own any Bitcoin to be frank, but I should.” Druckenmiller\u2019s History With BTC This isn’t the first time Druckenmiller has made positive comments about the crypto industry. Back in an interview in 2021, he likened Bitcoin to gold. He also predicted then that Ethereum could flip Bitcoin as smart contracts on the Ethereum blockchain spiked in popularity. In 2022, he said people could turn to crypto as more people lose faith in central banks. Related Reading: Solo Bitcoin Miner Snags $200,000 Block Reward, How Did They Do It? Investors like Druckenmiller and Jones have always praised Bitcoin, but others like Warren Buffet have been pessimistic. Buffet slammed BTC in a CNBC interview in April this year, calling it a \u201cgambling token.\u201d On the other hand, Bitcoin has been named as the best-performing asset class this year, outperforming stocks, bonds, commodities, and REITs. BTC is trading at $34,195 at the time of writing and is looking to break above a resistance at $35,000. BTC price shows strength | Source: BTCUSD on Tradingview.com Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":558363,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,435,656,679,89462,1119,89185,1144,78790],"class_list":["post-558359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-adoption","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-performance","tag-btc","tag-btc-news","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nWhy This 70-Year-Old Billionaire Wants To Own Bitcoin<\/title>\n<meta name=\"description\" content=\"Billionaire investor Stanley Druckenmiller recently gave his two cents on Bitcoin, acknowledging the asset's growth and popularity.\" 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why This 70-Year-Old Billionaire Wants To Own Bitcoin","url":"http:\/\/uniquehot.com\/news\/70-year-old-billionaire-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/70-year-old-billionaire-bitcoin\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/shutterstock_2011934483-Small-1.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/shutterstock_2011934483-Small-1.jpeg?fit=320%2C183"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin adoption","bitcoin news","bitcoin price","bitcoin price performance","btc","btc news","btcusd","btcusdt"],"dateCreated":"2023-10-31T09:45:12Z","datePublished":"2023-10-31T09:45:12Z","dateModified":"2024-06-11T07:09:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why This 70-Year-Old Billionaire Wants To Own Bitcoin\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/70-year-old-billionaire-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/70-year-old-billionaire-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_2011934483-Small-1.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_2011934483-Small-1.jpeg?fit=320%2C183\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin adoption\",\"bitcoin news\",\"bitcoin price\",\"bitcoin price performance\",\"btc\",\"btc news\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2023-10-31T09:45:12Z\",\"datePublished\":\"2023-10-31T09:45:12Z\",\"dateModified\":\"2024-06-11T07:09:23Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/shutterstock_2011934483-Small-1.jpeg?fit=320%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/558359"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=558359"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/558359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/558363"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=558359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=558359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=558359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}