Bitcoin and gold bars are more similar than expected. You can use it to protect your savings from inflation. The picture shows gold bars and Bitcoin coins.
Is Bitcoin Better Than Gold? – Anyone who has been active in the crypto space for a long time will answer this question with yes. Cryptocurrency connoisseurs know the advantages of Bitcoin over gold and have little doubt that BTC dominates the precious metal in terms of aspects such as portability or divisibility. If you look at the Bitcoin course, you will also find that the gold performance is well below that of digital gold.
Now another Wall Street veteran, Stanley Printmiller, has recognized this narrative and is betting on Bitcoin. Let’s look at what the billionaire had to say in detail.
Stanley Druckermiller: Another billionaire buys Bitcoin
After greats like Paul Tudor Jones, billionaire and Wall Street veteran Stanley Druckermiller has now publicly commented on Bitcoin.
In an interview with CNBC, Druckermiller revealed that he had also invested in Bitcoin . Just like Tudor Jones, he is incredibly bearish on the US dollar and is therefore building a long position on BTC.
This fact alone, namely a public statement on TV, is another great recognition for Bitcoin. More and more big names in the classic financial world see the digital asset as a necessary investment and a good addition to the portfolio.
Bitcoin rises sharply in price and can record price gains. The picture shows a price curve as well as stacked bitcoins.Bitcoin savings plan: The question of a good investment strategy for BTC is asked again and again. With the help of the cost average effect, you can minimize your risk, sleep better and benefit sustainably from the long-term development of Bitcoin and Co. – It couldn’t be easier! How a Bitcoin savings plan works.
If the gold bet works, BTC works too
As mentioned in the previous section, the basis of our article is the recent interview between Stanley Druckermiller and Kelly Evans from CNBC.
In the interview, Druckermiller said that he was betting that the cryptocurrency Bitcoin will continue to rise in price in the near future. At the same time, he admitted that he does not yet believe 100% in BTC as a store of value, but that he absolutely understands why this attribute is attributed to Bitcoin. Nonetheless, he had to acknowledge that the cryptocurrency is particularly popular with millennials – and they are now the generation of the future.
Druckermiller also says that in addition to Bitcoin, he also holds gold in his portfolio and that the holdings of the precious metal are well above his BTC position.
To be honest, if the bet on gold works, the bet on bitcoin will probably work even better.
The hedge fund manager also said that it took him some time to understand Bitcoin.
I’m a bit of a dinosaur, but I’ve now thawed and understand that Bitcoin can be an asset class that is extremely attractive as a store of value.
Bitcoin did it? – Paul Tudor Jones
According to Paul Tudor Jones and Anthony Pompliano, the fact that a true Wall Street veteran like Druckermiller is now taking a public position on Bitcoin is a real milestone.
The fact that druckmiller is a highly respected hedge fund manager, shorting the US dollar and referring to pro-bitcoin is hugely bullish.