US billionaire Stanley Druckenmiller says he owns Bitcoin, which could be a new asset class. “I own some of it,” he said in a recent episode with Goldman Sachs. “It has gone up considerably since I bought it.
It’s just a plaything. I don’t really believe it. I don’t really believe it. It may be a new asset class. The answer is-I am. I don’t know. ”Bitcoin rose 13% on Monday to a record high after Tesla revealed that it had spent $ 1.5 billion to buy a popular cryptocurrency. The token finally traded at around $ 43,725.51, breaking the record high of $ 41,000 set in January.
According to Wedbush analysts, the acquisition of Tesla is expected to have a spillover effect on companies around the world and give momentum to equities as more investors begin to consider crypto exposure as part of their overall valuation. I will. Drakken Miller, chairman of the Duquene Family Office, said he wouldn’t expect Bitcoin to trade so high unless the central bank put a record amount of money into the economy to stop the collapse. He was skeptical of it at first, but Bitcoin proponents said he did an “incredible marketing job.” “It’s been about 13 years,” he said.
“Especially young millennials see it as I’ve always seen gold,” Drakken Miller said, doubting whether Bitcoin could play a role other than a valuable store. Stated. He cited volatility, the enormous amount of energy used to generate it, and other complex technical issues as drawbacks. But he previously said that owning Bitcoin is a good hedge against inflationary pressures.