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Legendary investor Druckenmiller: "I should own Bitcoin, even though I currently don't"

Legendary investor Druckenmiller: “I should own Bitcoin, even though I currently don’t”

– Stanley Druckenmiller, a veteran investor, praised Bitcoin for establishing its own “brand” over the last decade and a half.

– He compared Bitcoin to gold as a store of value and acknowledged that young people see it as a valuable asset.

– Druckenmiller admitted that he does not currently own any Bitcoin but believes he should.

– In a previous interview, he revealed that he had sold his Bitcoin holdings due to central banks imposing tightening measures.

– Druckenmiller believes that cryptocurrency could play a significant role in a financial Renaissance if people lose faith in central banks.

– He has also praised blockchain technology and predicted that Ethereum could eventually surpass Bitcoin.

– Despite warming sentiment towards Bitcoin on Wall Street, there are still critics such as Warren Buffett and Charlie Munger who have referred to it as “rat poison” and lacking value.

– Druckenmiller’s investment philosophy focused on holding long and short positions in stocks and using leverage to trade futures.

– He founded Duquesne Capital Management and achieved an average annual return of 30% without experiencing a down year.

– Druckenmiller predicts that a ledger-based system could replace the US dollar as the world’s reserve currency in the future.

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