Billionaire Druckenmiller Says “I Don’t Own Bitcoin, But I Should”

Stanley Druckenmiller indirectly confirmed that he is going to invest in Bitcoin (BTC), the top crypto asset by market.

Bitcoin (BTC) is the top crypto asset by market cap which doesn’t require any introduction to this era of the financial world. Exactly 15 years ago, the Bitcoin blockchain whitepaper was published by Bitcoin anonymous Bitcoin creator Satoshi Nakamoto.

The current price of Bitcoin is $34,366 & this trade price is 27% higher over the last 30 days of trade price. 

Billionaire Druckenmiller says "I don't own Bitcoin, but I should" 1

On 30 Oct 2023, In an interview with hedge fund manager Paul Tudor Jones, Billionaire investor Stanley Druckenmiller talked about Bitcoin & called it a 17 years old brand. 

The billionaire said that he has been a big investor in gold for the last 70 years & he is surprised that Bitcoin grabbed better space among young investors as the best store of value just like Gold.

According to Druckenmiller Bitcoin is a 17-year-old brand just like Gold is a 5,000-year-old brand. In short, he is interested in Bitcoin because of its survival age & now he believes that Bitcoin is also a good option to invest money.

This billionaire confirmed that he doesn’t own Bitcoin but he should own it. That means he will consider investing money in this biggest crypto asset. 

Notably the Bitcoin-friendly statement came from Druckenmiller amid the increasing noise about Bitcoin ahead of Bitcoin spot ETF approval possibilities.

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Currently, more than 10 Bitcoin spot ETF applications are in the queue on the United States Securities and Exchange Commission’s (SEC) table and the SEC body is examining the applications.

As per ETF expert’s opinion, in the next 3 months, we will see the approval of the first Bitcoin spot ETF product.

Bitcoin market sentiments

Currently, the Bitcoin buy pressure is very high. The current Bitcoin Greed & Fear Index is 66, which means people are crazy to buy Bitcoin & not in fear of market dump possibilities.

It is not good sign for those who want investment in Bitcoin but surely it is a good sign for the next Bitcoin bull run.

Read also: Bitrace says internet search engines responsible behind crypto wallet hacking 

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