News/Billionaire Stan Druckenmiller Invests in Bitcoin
Billionaire Stan Druckenmiller Invests in Bitcoin

cryptobriefing-2020-11-09 21:27:40

Billionaire reverses his negative stance on cryptocurrency and start to buy bitcoins.

Stanley Druckenmiller by Anjali Sundaram. original photo from CNBC

Key Takeaways

Billionaire Stan Druckenmiller says that he has purchased bitcoins.

He believes that the investment will perform better than gold.

Druckenmiller is among the 400 wealthiest investors.

Stan Druckenmiller, a billionaire hedge fund investor, has invested in bitcoins, according to a recent interview.

Druckenmiller endorsed bitcoins by stating that the cryptocurrency "has a lot of attraction as a store of value to both millennials and the new West Coast line." He added that bitcoin has existed for 13 years and that it builds on its brand every day.

Though his investment in gold remains several times larger than his bitcoin holdings, his bitcoin investment may perform better, said Druckenmiller. "It is thinner, more illiquid, and has a lot more beta [risk-return potential]," he explained during the interview.

In June 2019, Druckenmiller previously stated that he would not purchase bitcoin—meaning today’s statement represents a complete shift in his stance. According to Bloomberg’s  billionaire list, Druckenmiller is among the world’s 400 wealthiest investors, with a net worth of $5.83 billion.

He joins several other private investors that have invested in cryptocurrency in recent years, including Jack Dorsey, Elon Musk, Tim Draper, Mark Cuban, and Paul Tudor Jones.


Original title: Billionaire Hedge Fund Manager Stan Druckenmiller Buys Bitcoin


The views expressed in this article are the author's own and do not necessarily reflect the view of Amber Group. Amber Group shall not be held liable under any circumstances for any losses, damages or expenses arising from the use of any content mentioned in this article.


The information contained on this website is provided for informational purposes only, with no warranties, or guarantees made as to the accuracy, completeness or timeliness of it. Amber Group assumes no liability or responsibility for any errors or omissions in the information contained on this site. We strongly encourage you to conduct your own research before taking any action.

This site may contain copyrighted material, the use of which has not always been specifically authorized by the copyright owner. If you wish to use the copyrighted material from this site for the purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. Authors or publishers who claim ownership of copyrighted articles reprinted on this website and wish for the content to be removed may email us directly at

If you would like to connect with us about any of the distributed content or other inquiries, please email us at with the relevant documentation.

View Original